Slide 1: Teleflex Incorporated Fourth Quarter 2024 Earnings Conference Call
Teleflex Incorporated Fourth Quarter 2024 Earnings Conference Call 2/27/2025
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 February 27, 2025 and can be accessed on the Teleflex website or by telepho
Slide 3: Today's Speakers
Today’s Speakers Liam Kelly Thomas Powell John Deren Lawrence Keusch Chairman, Executive VP Corporate VP and VP, Investor President and CEO and CFO Chief Accounting Relations Officer and Strategy Development
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 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 ea
Slide 5: Q4'24 Highlights and 2025 Guidance
Q4'24 Highlights and 2025 Guidance Q4 ◦ Q4'24 adjusted constant currency revenue grew 3.2% year- over-year Performance ◦ Q4'24 adjusted gross margin of 60.1% and adjusted operating margin of 27.6% Summary ◦ Q4'24 adjusted EPS of $3.89, a 15.1% increase year-over- year ◦ Adjusted constant currency re
Slide 6: Q4'24 Financial Review
Q4'24 Financial Review ◦ Revenue increased 2.8% year-over-year on a GAAP basis Global revenue growth ◦ Adjusted revenue increased 3.2% year-over-year on a constant currency basis ◦ GAAP gross margin of 55.3% vs. 55.7% in the prior year period Gross margin ◦ Adjusted gross margin of 60.1%, flat year-
Slide 7: Q4'24 Segment Revenue Review
Q4'24 Segment Revenue Review Three Months Ended December 31, 2024 As reported Adjusted Adjusted Constant Reported Dollars in Millions December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Currency Revenue Revenue Growth Growth Americas $540.8 $533.2 1.4% $540.8 $533.2 1.7% EMEA 161
Slide 8: Q4'24 Global Product Category Revenue Review
Q4'24 Global Product Category Revenue Review Three Months Ended December 31, 2024 As reported Adjusted Adjusted Constant Reported Dollars in Millions December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Currency Revenue Revenue Growth Growth Vascular Access $189.3 $186.7 1.4% $189
Slide 9: 2025 Financial Guidance Summary
2025 Financial Guidance Summary 2025 Guidance Low High GAAP Revenue Growth (0.35)% 0.65% Impact of Foreign Exchange Rate Fluctuations (1.80)% (1.80)% Impact of Italian Payback Measure 0.45% 0.45% Adjusted Constant Currency Revenue Growth 1.00% 2.00% Adjusted Gross Margin 60.25% 61.00% Adjusted Opera
Slide 10: Thank You!
Thank You! 10 TELEFLEX EARNINGS CONFERENCE CALL 2/27/2025
Slide 11: Appendices
Appendices Empowering the future of healthcare
Slide 12: 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 13: 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 - Restr
Slide 14: 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 15: A1 - Q4'24 Segment Reconciliation of Net Revenue
Appendix A1 - Q4'24 Segment Reconciliation of Net Revenue (Dollars in millions) Three Months Ended December 31, 2024 December 31, 2024 December 31, 2023 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Revenue Rev
Slide 16: A2 - 2024 Segment Reconciliation of Net Revenue
Appendix A2 - 2024 Segment Reconciliation of Net Revenue (Dollars in millions) Year Ended December 31, 2024 December 31, 2024 December 31, 2023 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Revenue Revenue Reve
Slide 17: A3 - Q4'24 Global Product Category Reconciliation of Net Revenue
Appendix A3 - Q4'24 Global Product Category Reconciliation of Net Revenue (Dollars in millions) Three Months Ended December 31, 2024 December 31, 2024 December 31, 2023 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Rev
Slide 18: A4 - 2024 Global Product Category Reconciliation of Net Revenue
Appendix A4 - 2024 Global Product Category Reconciliation of Net Revenue (Dollars in millions) Year Ended December 31, 2024 December 31, 2024 December 31, 2023 % Increase / (Decrease) Adjusted Reported Adjusted Reported Adjusted Reported Adjustment Constant Adjustment Adjustment Revenue Revenue Reve
Slide 19: 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 December 31, 2024 Income Effective Diluted earnings per Revenue Gross margin SG&A (1) R&D (1) Operating before Income tax income tax share from margin (2) income tax
Slide 20: 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 December 31, 2023 Diluted earnings Gross SG&A (1) R&D (1) Operating margin Income before Income tax Effective per share from margin (2) income taxes expense income t
Slide 21: B3 - Reconciliation of Consolidated Statement of Income Items
Appendix B3 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Year Ended December 31, 2024 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 continuing
Slide 22: B4 - Reconciliation of Consolidated Statement of Income Items
Appendix B4 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Year Ended December 31, 2023 Diluted earnings Gross SG&A (1) R&D (1) Operating margin Income before Income tax Effective per share from margin (2) income taxes expense income tax rate
Slide 23: Appendix B Tickmarks
A. Restructuring, restructuring related and impairment items – For the three months ended December 31, 2024, pre-tax restructuring charges were $5.5 million; restructuring related charges were $6.3 million; and impairment charges were $245.7 million. For the three months ended December 31, 2023, pre
Slide 24: 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 55.94% 56.69% Estimated restructuring, restructuring related and impairment items 4.30% 4.30% Forecasted Adjusted Gross Margin 60.25% 61.00% Low High Forecasted GAAP Operating Margin 18.24
Slide 25: 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 $8.85 $9.25 Estimated restructuring, restructuring related and impairment items, net of tax $4.28 $4.28 Estimated acquisition, integration and dives
Slide 26: 2024 Segment Revenue Review
2024 Segment Revenue Review Year Ended December 31, 2024 As reported Adjusted Adjusted Constant Reported Dollars in Millions December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Currency Revenue Revenue Growth Growth Americas $2066.3 $2041.4 1.2% $2066.3 $2041.4 1.3% EMEA 618.0 58
Slide 27: 2024 Global Product Category Revenue Review
2024 Global Product Category Revenue Review Year Ended December 31, 2024 As reported Adjusted Adjusted Constant Reported Dollars in Millions December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Currency Revenue Revenue Growth Growth Vascular Access $732.7 $708.0 3.5% $732.7 $708.0
Slide 28: 2024 Financial Review - Year Ended December 31, 2024
2024 Financial Review - Year Ended December 31, 2024 ◦ Revenue increased 2.4% year-over-year on a GAAP basis Global revenue growth ◦ Adjusted revenue increased 2.9% year-over-year ◦ Adjusted revenue increased 3.1% year-over-year on a constant currency basis ◦ GAAP gross margin of 55.9% vs. 55.4% in