Teleflex reports Q3 adjusted EPS $3.49, consensus $3.39

Reports Q3 revenue $764.4M, consensus $769.6M. “In Q3, we delivered year-over-year margin expansion and continued adjusted operating income growth” said CEO Liam Kelly. “The benefits of our diversified portfolio were evident as strong performances from Interventional and Vascular Access helped offset unexpected softness in OEM revenues. Healthy revenue momentum for Barrigel continued while our integration of Palette Life Sciences AB remained on schedule. Cash flow remains strong, and we have augmented our disciplined capital allocation strategy with a $500M share repurchase authorization, including a $200M accelerated share program in the third quarter. With net leverage at 1.7x, we continue to have considerable balance sheet flexibility to execute on our M&A strategy. Finally, we have raised the low end of our 2024 adjusted EPS guidance.”