Teleflex Q4 Results Top Estimates: Guides FY24 In Line With View

(RTTNews) - Specialty medical devices provider Teleflex Inc. (TFX) reported Thursday that net income for the fourth quarter more than halved to $31.11 million or $0.66 per share from $78.59 million or $1.66 per share in the prior-year quarter.

Excluding items, adjusted earnings from continuing operations were $3.38 per share, compared to $3.52 per share in the year-ago quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $3.26 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter increased 2.1 percent to $773.91 million from $758.00 million in the same quarter last year. Revenues were up 0.7 percent on a constant currency basis. Analysts expected revenues of $768.69 million for the quarter.

Looking ahead to fiscal 2024, the company now projects earnings from continuing operations in a range of $5.69 to $6.09 per share and adjusted earnings from continuing operations in a range of $13.55 and $13.95 per share on revenue growth of 3.6 to 4.6 percent, with constant currency revenue growth of 3.75 to 4.75 percent.

The Street is looking for earnings of $13.84 per share on revenue growth of 4.3 percent to $3.10 billion for the year.