• Revenue: $749.7 million, up 0.9% year over year on a GAAP basis; adjusted revenue $763.5 million, up 2.7% year over year on a reported basis and 3.4% on a constant currency basis.

• Adjusted Earnings Per Share (EPS): $3.42, a 0.3% increase year over year.

• Adjusted Gross Margin: 60.8%, a 180-basis-point increase versus the prior year period.

• Adjusted Operating Margin: 26.7%, a 10-basis-point year-over-year increase.

• Net Interest Expense: $19.4 million, up from $16.6 million in the prior year period.

• Adjusted Tax Rate: 12.3%, compared to 10.8% in the prior year period.

• Cash Flow from Operations: $204.5 million for the six months, up from $170.6 million in the prior year period.

• Americas Revenue: $426.8 million, a 0.6% increase year over year.

• EMEA Revenue: $160.9 million, a 9.8% increase year over year.

• Asia Revenue: $87 million, a 4% increase year over year.

• Vascular Access Revenue: $181.1 million, a 4.8% increase year over year.

• Interventional Revenue: $141.2 million, a 13.8% increase year over year.

• Anesthesia Revenue: $102.5 million, a 2.3% increase year over year.

• Surgical Revenue: $111.3 million, a 6.4% increase year over year.

• Interventional Urology Revenue: $83.1 million, a 7.1% increase year over year.

• OEM Revenue: $88.8 million, a 5.8% increase year over year.

• Other Revenue: $55.5 million, a 26.4% decline year over year.

• 2024 Revenue Guidance: Adjusted constant currency revenue growth of 4.25% to 5.25%.

• 2024 Adjusted EPS Guidance: $13.80 to $14.20.

• Warning! GuruFocus has detected 4 Warning Signs with INMD.

Release Date: August 01, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Teleflex Inc (NYSE:TFX) reported second-quarter revenues of $749.7 million, up 0.9% year over year on a GAAP basis, and adjusted revenues of $763.5 million, up 2.7% year over year.

• The company experienced strong growth in its EMEA segment, with revenues increasing by 9.8% year over year, driven by a targeted strategy to increase geographic availability and utilization.

• Interventional revenue increased by 13.8% year over year, with significant contributions from products like MANTA and intra-aortic balloon pumps.

• Teleflex Inc (NYSE:TFX) raised its 2024 revenue guidance for Palette Life Sciences to $70 million to $72 million, reflecting better-than-expected performance.

• The company announced a $500 million share repurchase program, demonstrating confidence in its financial position and commitment to returning capital to shareholders.

Negative Points

• Teleflex Inc (NYSE:TFX) faced a $15.8 million increase in reserves due to an adverse ruling by the Italian constitutional court, impacting its EMEA segment revenue.

• The ongoing doctors' strike in South Korea negatively impacted the company's APAC growth by approximately 5%.

• The interventional urology segment faced challenges, particularly in the office side of service for UroLift, affecting growth.

• The company's adjusted earnings per share only increased by 0.3% year over year, indicating limited bottom-line growth.

• Teleflex Inc (NYSE:TFX) experienced a decline in 'other revenue' by 26.4% year over year, primarily due to the planned exit of the MSA by Medline.