Slide 1: Teleflex Incorporated First Quarter 2025 Earnings Conference Call
Teleflex Incorporated First Quarter 2025 Earnings Conference Call 5/1/2025
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 1, 2025 either on the Teleflex website or by telephone. The call can be
Slide 3: Today's Speakers
Today’s Speakers Liam Kelly John Deren Lawrence Keusch Chairman, Executive VP VP, Investor President and CEO and CFO Relations and Strategy Development TELEFLEX EARNINGS CONFERENCE CALL 5/1/2025
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 expectations with respect to the market release of new products; our forecasted 2025: GAAP, adjusted revenue and adjusted constant currency growth, GAAP and adjusted gross and
Slide 5: Executive Overview
Executive Overview Liam Kelly Chairman, President and CEO
Slide 6: Q1'25 Performance Summary and 2025 Guidance
Q1'25 Highlights Q1 ◦ Q1'25 adjusted constant currency revenue declined 3.8% year- over-year Performance ◦ Q1'25 adjusted gross margin of 60.4% and adjusted operating Summary margin of 24.7% ◦ Q1'25 adjusted EPS of $2.91, a 9.3% decrease year-over-year ◦ Maintained adjusted constant currency revenue
Slide 7: Q1'25 Segment Revenue Review
Q1'25 Segment Revenue Review Three Months Ended % Increase/ Decrease Adjusted Constant Reported Dollars in Millions March 30, 2025 March 31, 2024 Currency Impact Currency Revenue Growth Growth Americas $475.7 $494.0 (3.7)% (0.5)% (3.2)% EMEA $151.2 $159.6 (5.3)% (2.5)% (2.8)% Asia $73.8 $84.2 (12.4)
Slide 8: Q1'25 Global Product Category Revenue Review
Q1'25 Global Product Category Revenue Review Three Months Ended % Increase/ Decrease Adjusted Constant Reported Dollars in Millions March 30, 2025 March 31, 2024 Currency Impact Currency Revenue Growth Growth Vascular Access $182.4 $181.4 0.6% (1.3)% 1.9% Interventional $137.5 $134.7 2.1% (1.1)% 3.2
Slide 9: Clinical and Commercial Updates
Clinical and Commercial Updates Expanding Interventional Portfolio TM – Received FDA 510(k) clearance of the AC3 Range intra-aortic balloon pump (IABP) TM – The AC3 Range IABP is a compact pump designed to provide reliable, ongoing IABP support across various patient transport modes – Full market re
Slide 10: Clinical and Commercial Updates
Clinical and Commercial Updates TM Expanding QuikClot Control+ Indications – Received FDA clearance of expanded indication to include all grades of internal and external bleeding TM – QuikClot Control+ can now be used to support procedures in general surgery, gynecologic surgery, orthopedic surgery,
Slide 11: Strategic Updates
Strategic Updates Separation of Teleflex into RemainCo and NewCo – On February 27, we announced the intention to separate Teleflex into two independent publicly traded companies; each with a focused growth strategy and streamlined operations – The transaction is progressing as planned and will drive
Slide 12: Financial Overview
Financial Overview John Deren Executive VP and CFO
Slide 13: Q1'25 Financial Review
Q1'25 Financial Review ◦ Revenue decreased 5.0% year-over-year on a GAAP basis Global revenue growth ◦ Adjusted revenue decreased 3.8% year-over-year on a constant currency basis ◦ GAAP gross margin of 55.6% vs. 56.4% in the prior year period Gross margin ◦ Adjusted gross margin of 60.4%, down 70 bp
Slide 14: 2025 Financial Guidance Summary
2025 Financial Guidance Summary 2025 Guidance Low High GAAP Revenue Growth 1.28% 2.28% Impact of Foreign Exchange Rate Fluctuations (0.17)% (0.17)% Impact of Prior Year Italian Payback Measure 0.45% 0.45% Adjusted Constant Currency Revenue Growth 1.00% 2.00% Adjusted Gross Margin 58.25% 59.00% Adjus
Slide 15: Key Takeaways
Key Takeaways We will continue to focus on Key growth drivers driving durable growth. We First quarter performance performed well in the first delivered on our commitment was in line with our quarter. Additionally, if it to return capital to expectations. Headwinds in were not for the impact of shar
Slide 16: Thank You!
Thank You! 16 TELEFLEX EARNINGS CONFERENCE CALL 5/1/2025
Slide 17: Appendices
Appendices Empowering the future of healthcare
Slide 18: 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: Adjusted revenue. This non-GAAP measure
Slide 19: 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, restructuring related, and impairment items - Rest
Slide 20: Non-GAAP Adjustments
Non-GAAP Adjustments European medical device regulation - The European Union (“EU”) has adopted the EU Medical Device Regulation (“MDR”), which replaces the existing Medical Devices Directive (“MDD”) and imposes more stringent requirements for the marketing and sale of medical devices in the EU, inc
Slide 21: 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 30, 2025 Selling, general and Research and Operating Income Income tax Effective Diluted earnings per share Gross margin administrative development expenses ma
Slide 22: 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 31, 2024 Selling, general and Research and Diluted earnings Gross administrative development Operating margin Income before Income tax Effective per share from
Slide 23: Appendix A3 - Q1'25 Segment Reconciliation of Net Revenue
Appendix A3 - Q1'25 Segment Reconciliation of Net Revenue (Dollars in millions) Three Months Ended March 30, 2025 March 30, 2025 March 31, 2024 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Revenue Revenue Reve
Slide 24: Appendix A4 - Q1'25 Global Product Category Reconciliation of Net Revenue
Appendix A4 - Q1'25 Global Product Category Reconciliation of Net Revenue (Dollars in millions) Three Months Ended March 30, 2025 March 30, 2025 March 31, 2024 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Reve
Slide 25: Appendix A Tickmarks
A. Restructuring, restructuring related, and impairment items – For the three months ended March 30, 2025, pre-tax restructuring charges were $1.5 million, restructuring related charges were $5.4 million, and there were no pre-tax impairment charges. For the three months ended March 31, 2024, pre-ta
Slide 26: Appendix B - 2025 Adj. Gross and Operating Margin Guidance Reconciliation
Appendix B - 2025 Adj. Gross and Operating Margin Guidance Reconciliation Low High Forecasted GAAP Gross Margin 54.05% 54.80% Estimated restructuring, restructuring related, and impairment items 0.56% 0.56% Estimated intangible amortization expense 3.64% 3.64% Forecasted Adjusted Gross Margin 58.25%
Slide 27: Appendix C - Reconciliation of 2025 Adjusted Earnings Per Share Guidance
Appendix C - Reconciliation of 2025 Adjusted Earnings Per Share Guidance Low High Forecasted GAAP Diluted Earnings Per Share from continuing operations $6.51 $6.91 Estimated restructuring, restructuring related, and impairment items, net of tax $0.42 $0.42 Estimated acquisition, integration and dive