Slide 1: Teleflex Incorporated First Quarter 2026 Earnings Conference Call
Teleflex Incorporated First Quarter 2026 Earnings Conference Call 5/7/2026
Slide 2: Conference Call Logistics
Conference Call Logistics The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on Investors) An audio replay of the call will be available beginning at 11:00 am Eastern Time on May 7, 2026 either on the Teleflex website or by telephone. The call can be
Slide 3: Today's Speakers
Today’s Speakers Stuart Randle John Deren Lawrence Keusch Interim Executive VP VP, Investor President and CEO and CFO Relations and Strategy Development TELEFLEX EARNINGS CONFERENCE CALL 5/7/2026
Slide 4: Note on Forward-Looking Statements and Non-GAAP Financial Measures
Note on Forward-Looking Statements This presentation contains forward-looking statements, including, but not limited to, our forecasted 2026: GAAP, pro forma adjusted revenue and pro forma adjusted constant currency revenue growth, GAAP and adjusted operating margin and GAAP and adjusted earnings pe
Slide 5: Executive Overview
Executive Overview Stuart Randle Interim President and CEO
Slide 6: Governance Updates
Governance Updates Governance enhancements • Michael J. Tokich (former CFO, STERIS plc) nominated to Board • Plan to establish new Growth & Operating Committee • Actions underscore commitment to strong governance, thoughtful oversight, and long-term performance Planned Board transitions • Dr. Stephe
Slide 7: Q1 Performance Summary
Q1'26 Continuing Operations Highlights Q1 ◦ Q1'26 pro forma adjusted constant currency revenue grew 5.1% year-over-year Performance ◦ Q1'26 adjusted gross margin of 61.4% and adjusted operating margin of 18.1% Summary ◦ Q1'26 adjusted EPS of $1.39, a 3.5% decrease year-over-year ◦ Maintaining pro fo
Slide 8: Q1'26 Global Product Commentary of Continuing Operations
Q1'26 Global Product Commentary of Continuing Operations Sales ($M) Commentary $236.8 Vascular Reported rev. growth: 8.1% • In Q1'26 growth was primarily driven by growth in our hemostatic products and in our central venous and other access portfolio Pro forma adj. const. curr. rev. growth: 4.8% • T
Slide 9: Q1'26 Global Product Category Revenue Review
Q1'26 Global Product Category Revenue Review Three Months Ended March 31, 2026 March 31, 2026 March 30, 2025 % Increase / (Decrease) Pro Forma Pro Forma Pro Forma Adjusted Reported Reported Reported Adjustment Adjustment Adjusted Adjustment Adjusted Revenue Growth Currency Impact Constant Revenue Re
Slide 10: Financial Overview
Financial Overview John Deren Executive VP and CFO
Slide 11: Q1'26 Financial Review of Continuing Operations
Q1'26 Financial Review of Continuing Operations Adjusted GAAP ◦ The year-over-year adjusted gross margin decline was primarily driven by the following: ◦ the adverse impact of tariffs 2025 66.1% 2025 61.7% ◦ quality remediation charges primarily associated with third-party supplier Gross Margin (470
Slide 12: 2026 Financial Guidance
2026 Financial Guidance ◦ Maintaining 2026 GAAP revenue from continuing operations growth range of 14.4% to 15.4% Revenue year-over-year ◦ Maintaining 2026 pro forma adjusted constant currency revenue growth range of 4.5% to 5.5% Earnings Per ◦ Maintaining 2026 GAAP EPS from continuing operations ra
Slide 13: 2026 Guidance Considerations
2026 Guidance Considerations ◦ 4.5% to 5.5% pro forma adjusted constant currency revenue growth for 2026 Pro Forma Adj. CC ◦ Excludes foreign exchange, Italian payback matter, and discontinued products Revenue Growth ◦ Includes Vascular Intervention revenue for the first half of 2025 ◦ 2026 adjusted
Slide 14: 2026 Financial Guidance – Future Opportunities
2026 Financial Guidance – Future Opportunities ◦ $90m stranded costs impacting 2026 adjusted operating margin Adjusted Operating ◦ TS/MS agreements expected to offset stranded costs on an annualized basis ◦ Announced restructuring programs to result in ~$50 million of pre-tax savings on Margin an an
Slide 15: 2026 Financial Guidance of Continuing Operations Summary
2026 Financial Guidance of Continuing Operations Summary 2026 Guidance Low High GAAP Revenue Growth 14.4% 15.4% Impact of Vascular Intervention Pro Forma 10.0% 10.0% Impact of Discontinued Product (0.7)% (0.7)% Impact of Italian Payback Measure (0.5)% (0.5)% Base Year Adjustment (GAAP Versus Pro For
Slide 16: Forecasted 2026 Pro Forma Adjusted Revenue Reconciliation
Forecasted 2026 Pro Forma Adjusted Revenue From Continuing Operations Reconciliation 2026 Guidance 2026 Guidance 2025 Low High GAAP revenue $1,992.7 $2,280 $2,300 Vascular Intervention pro forma adjustment 199.0 — — Discontinued product adjustment (14.3) — — Italian payback measure adjustment (9.0)
Slide 17: Key Takeaways
Key Takeaways Teleflex is in the midst of a transformation We are pleased with our Q1’26 performance, We continue to expect our two strategic that is intended to optimize our portfolio, with pro forma adjusted constant currency divestitures to close in the second half of create a more focused medica
Slide 18: Thank You!
Thank You! 18 TELEFLEX EARNINGS CONFERENCE CALL 5/7/2026
Slide 19: Appendices
Appendices Empowering the future of healthcare
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures The presentation to which these appendices are attached and the following appendices include, among other things, tables reconciling the following applicable non-GAAP financial measures to the most comparable GAAP financial measure: Pro forma adjusted revenue. This non-GA
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted diluted earnings per share. This non-GAAP measure is based upon diluted earnings per share from continuing operations, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the impact of (i) restructuring and optimizat
Slide 22: Non-GAAP Adjustments
Non-GAAP Adjustments The following is an explanation of certain of the adjustments that are applied with respect to one or more of the non-GAAP financial measures that appear in the presentation to which these appendices are attached: Restructuring and optimization charges - Restructuring and optimi
Slide 23: Non-GAAP Adjustments
Non-GAAP Adjustments Italian payback measure - The Italian payback measure is a law that requires suppliers of medical devices to the Italian National Healthcare System to make payments to the Italian government if medical device expenditures in a given year exceed regional expenditure ceilings esta
Slide 24: Appendix A1 – Reconciliation of Consolidated Statement of Income Items
Appendix A1 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Three Months Ended March 31, 2026 (Loss) Effective Diluted (loss) earnings per Revenue Gross margin SG&A (1) R&D (1) Operating Income Income tax income tax share from continuing margin
Slide 25: Appendix A2 – Reconciliation of Consolidated Statement of Income Items
Appendix A2 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Three Months Ended March 30, 2025 Income Effective Diluted earnings Revenue Gross SG&A (1) R&D (1) Operating before Income tax income tax per share from margin margin (2) income taxes
Slide 26: Appendix B Tickmarks
A. Restructuring and optimization charges – For the three months ended March 31, 2026, pre-tax restructuring charges were $16.8 million and restructuring related Appendix B charges were $11.3 million. For the three months ended March 30, 2025, pre-tax restructuring charges were $1.4 million and rest
Slide 27: Appendix C - 2026 Adj. Operating Margin Guidance Reconciliation
Appendix C - 2026 Adj. Operating Margin Guidance Reconciliation Forecasted GAAP Operating Margin 10.3% Estimated restructuring and optimization items 2.0% Estimated acquisition, integration and divestiture related items 1.6% Estimated separation costs 0.3% Estimated other items (1.1)% Estimated ERP
Slide 28: Appendix D - Reconciliation of Forecasted 2026 Adjusted EPS Guidance
Appendix D - Reconciliation of Forecasted 2026 Adjusted Earnings Per Share Guidance Low High Forecasted GAAP Diluted Earnings Per Share from continuing operations $2.90 $3.20 Restructuring and optimization items, net of tax $0.90 $0.90 Acquisition, integration and divestiture related items, net of t