Slide 1: Teleflex Incorporated Second Quarter 2025 Earnings Conference Call
Teleflex Incorporated Second Quarter 2025 Earnings Conference Call 7/31/2025
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 July 31, 2025 either on the Teleflex website or by telephone. The call can
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 7/31/2025
Slide 4: Note on Forward-Looking Statements
Note on Forward-Looking Statements This presentation contains forward-looking statements, including, but not limited to, our forecasted 2025: GAAP, adjusted revenue and adjusted constant currency growth, GAAP and adjusted gross and operating margins and GAAP and adjusted earnings per share and, in e
Slide 5: Executive Overview
Executive Overview Liam Kelly Chairman, President and CEO
Slide 6: Q2 Performance Summary
Q2'25 Highlights Q2 ◦ Q2'25 adjusted constant currency revenue grew 1.0% year- over-year Performance ◦ Q2'25 adjusted gross margin of 59.7% and adjusted operating margin of 26.9% Summary ◦ Q2'25 adjusted EPS of $3.73, a 9.1% increase year-over-year ◦ Increased adjusted constant currency revenue grow
Slide 7: Q2'25 Segment Commentary
Q2'25 Segment Commentary Sales ($M) Commentary $525.7 Americas Reported rev. growth: 1.9% • Q2'25 performance driven by strength in intra-aortic balloon pumps was partially offset by OEM declines and continued challenges in UroLift Adj. const. curr. rev. growth: 2.0% $166.2 • In Q2'25, strength in I
Slide 8: Q2'25 Segment Revenue Review
Q2'25 Segment Revenue Review Three Months Ended June 29, 2025 As reported Adjusted Adjusted Constant Reported Dollars in Millions June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Currency Revenue Revenue Growth Growth Americas $525.7 $515.6 1.9% $525.7 $515.6 2.0% EMEA 166.2 147.1 13.0% 166.2
Slide 9: Q2'25 Global Product Commentary
Q2'25 Global Product Commentary Sales ($M) Commentary Vascular $185.5 • Q2'25 performance led by year-over-year growth in PICCs, which increased at a double-digit rate, and a Access Reported rev. growth: 2.4% solid performance in EZ-IO Adj. const. curr. rev. growth: 1.4% • Acceleration in growth is
Slide 10: Q2'25 Global Product Category Revenue Review
Q2'25 Global Product Category Revenue Review Three Months Ended June 29, 2025 As reported Adjusted Adjusted Constant Reported Dollars in Millions June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Currency Revenue Revenue Growth Growth Vascular Access $185.5 $181.1 2.4% $185.5 $181.1 1.4% Inter
Slide 11: Strategic Updates
Strategic Updates Separation of Teleflex into RemainCo and NewCo – The separation of Teleflex announced on February 27 has continued to progress – Once separated, each business will be best positioned for the future - with more focused strategic direction, simplified operating models, streamlined ma
Slide 12: Clinical and Commercial Updates
Clinical and Commercial Updates Expanding Vascular Access Clinical Foundation – New prospective cohort study reporting the efficacy of Arrow™ chlorhexidine-impregnated central venous catheters demonstrates reduced infection rates among ICU patients – The study’s CVC analysis demonstrated a statistic
Slide 13: Financial Overview
Financial Overview John Deren Executive VP and CFO
Slide 14: Q2'25 Financial Review
Q2'25 Financial Review Revenue ($M) Gross Margin Operating Margin Earnings per Share (110) bps 20 bps 9.1% 26.9% $3.73 60.8% 26.7% 59.7% $3.42 $749.7 $780.9 763.5 $780.9 55.6% 55.2% $2.77 19.9% 15.6% $1.69 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'25 Q2'24 Q2'2
Slide 15: 2025 Financial Guidance Summary
2025 Financial Guidance Summary 2025 Guidance Low High GAAP Revenue Growth 9.00% 10.00% Impact of Foreign Exchange Rate Fluctuations 0.85% 0.85% Impact of Prior Year Italian Payback Measure 0.45% 0.45% Adjusted Constant Currency Revenue Growth 7.70% 8.70% Adjusted Gross Margin 58.75% 59.50% Adjusted
Slide 16: Key Takeaways
Key Takeaways We continue to advance our We continued to make We completed the strategic objectives. Our focus significant progress in acquisition of the is on enhanced operational executing our strategy, Vascular Intervention execution, returning the delivering second quarter business and have begu
Slide 17: Thank You!
Thank You! 17 TELEFLEX EARNINGS CONFERENCE CALL 7/31/2025
Slide 18: Appendices
Appendices Empowering the future of healthcare
Slide 19: 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 20: 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 rationalization charges - Restructuring and rat
Slide 21: 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 22: Appendix A1 - Q2'25 Segment Reconciliation of Net Revenue
Appendix A1 - Q2'25 Segment Reconciliation of Net Revenue (Dollars in millions) Three Months Ended June 29, 2025 June 29, 2025 June 30, 2024 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Revenue Revenue Revenue
Slide 23: Appendix A2 - 2025 Segment Reconciliation of Net Revenue
Appendix A2 - 2025 Segment Reconciliation of Net Revenue (Dollars in millions) Six Months Ended June 29, 2025 June 29, 2025 June 30, 2024 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Revenue Revenue Revenue Gr
Slide 24: Appendix A3 - Q2'25 Global Product Category Reconciliation of Net Revenue
Appendix A3 - Q2'25 Global Product Category Reconciliation of Net Revenue (Dollars in millions) Three Months Ended June 29, 2025 June 29, 2025 June 30, 2024 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Revenue
Slide 25: Appendix A4 - 2025 Global Product Category Reconciliation of Net Revenue
Appendix A4 - 2025 Global Product Category Reconciliation of Net Revenue (Dollars in millions) Six Months Ended June 29, 2025 June 29, 2025 June 30, 2024 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Revenue Re
Slide 26: Appendix B1 – Reconciliation of Consolidated Statement of Income Items
Appendix B1 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Three Months Ended June 29, 2025 Operating Income Income tax Effective Diluted earnings per share Revenue Gross margin SG&A (1) R&D (1) margin (2) before expense income tax from contin
Slide 27: Appendix B2 – Reconciliation of Consolidated Statement of Income Items
Appendix B2 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Three Months Ended June 30, 2024 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 e
Slide 28: Appendix B3 – Reconciliation of Consolidated Statement of Income Items
Appendix B3 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Six Months Ended June 29, 2025 Operating Income Income tax Effective Diluted earnings per share Revenue Gross margin SG&A (1) R&D (1) margin (2) before expense income tax from continui
Slide 29: Appendix B4 – Reconciliation of Consolidated Statement of Income Items
Appendix B4 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Six Months Ended June 30, 2024 Diluted earnings Revenue Gross SG&A (1) R&D (1) Operating Income before Income tax Effective per share from margin margin (2) income taxes expense income
Slide 30: Appendix B Tickmarks
A. Restructuring and rationalization charges – For the three months ended June 29, 2025, pre-tax restructuring charges were $1.2 million, restructuring related charges were $4.4 million, and product rationalization charges were $2.6 million. For the three months ended June 30, 2024, pre- tax restruc
Slide 31: Appendix C - 2025 Adj. Gross and Operating Margin Guidance Reconciliation
Appendix C - 2025 Adj. Gross and Operating Margin Guidance Reconciliation Low High Forecasted GAAP Gross Margin 54.53% 55.28% Estimated restructuring and rationalization items 0.63% 0.63% Estimated acquisition, integration and divestiture related items 0.20% 0.20% Estimated intangible amortization e
Slide 32: Appendix D - Reconciliation of 2025 Adjusted Earnings Per Share Guidance
Appendix D - Reconciliation of 2025 Adjusted Earnings Per Share Guidance Low High Forecasted GAAP Diluted Earnings Per Share from continuing operations $6.73 $7.13 Restructuring and rationalization items, net of tax $0.54 $0.54 Impairment items, net of tax $0.14 $0.14 Estimated acquisition, integrat
Slide 33: 2025 Financial Review - Six Months Ended June 29, 2025
2025 Financial Review - Six Months Ended June 29, 2025 ◦ Revenue decreased 0.4% year-over-year on a GAAP basis Global revenue growth ◦ Adjusted revenue decreased 1.3% year-over-year on a constant currency basis ◦ GAAP gross margin of 55.4% vs. 56.0% in the prior year period Gross margin ◦ Adjusted g