Teleflex Inc. Files 10-Q for Q1 2024

TL;DR

<b>Teleflex Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and segment data.</b>

AI Summary

TELEFLEX INC (TFX) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Teleflex Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is 550 E Swedesford Rd, Suite 400, Wayne, PA 19087. The filing includes data related to common stock, additional paid-in capital, retained earnings, and treasury stock. Specific segments like Vascular Access, Interventional, Anesthesia, Surgical, and Interventional Urology are detailed for Q1 2024 and Q1 2023.

Why It Matters

For investors and stakeholders tracking TELEFLEX INC, this filing contains several important signals. The 10-Q filing provides a detailed look at Teleflex's financial position and operational segments for the first quarter of 2024, allowing investors to assess recent performance. Key financial metrics and segment revenues are presented, offering insights into the company's revenue streams and potential growth areas within its medical device offerings.

Risk Assessment

Risk Level: TFX — TELEFLEX INC shows moderate risk based on this filing. The filing is a standard quarterly report and does not contain immediate red flags, indicating a routine disclosure of financial information.

Analyst Insight

Review the segment performance data in the 10-Q to identify trends in Vascular Access, Interventional, Anesthesia, and Surgical product lines.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Report Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (2024 Q1)
• 2023-04-02 — Prior Year Quarter End Date (2023 Q1)

Key Players & Entities

• TELEFLEX INC (company) — FILER
• 550 E SWEDESFORD RD (company) — BUSINESS ADDRESS
• WAYNE (company) — BUSINESS ADDRESS
• PA (company) — BUSINESS ADDRESS
• 19087 (company) — BUSINESS ADDRESS
• TFX (company) — ticker symbol

FAQ

Industry Context

Teleflex Inc. operates in the medical device industry, focusing on surgical and medical instruments and apparatus.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, indicating compliance with SEC regulations for public companies.

What Investors Should Do

1. Analyze revenue trends by segment for Q1 2024 compared to Q1 2023.
2. Examine the balance sheet details for changes in equity accounts.
3. Monitor any disclosures related to customer concentration risk.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q.
• 2024-05-03: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This 10-Q filing provides the financial and operational details for the first quarter of 2024, following the company's previous filings.

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 per share TFX New York Stock Exchange

Filing Documents

• tfx-20240331.htm (10-Q) — 1007KB
• exhibit22toq12024xsubsidia.htm (EX-22) — 4KB
• tfx-2024331xex311.htm (EX-31.1) — 9KB
• tfx-2024331xex312.htm (EX-31.2) — 9KB
• tfx-2024331xex321.htm (EX-32.1) — 5KB
• tfx-2024331xex322.htm (EX-32.2) — 5KB
• 0000096943-24-000072.txt (&nbsp;) — 6263KB
• tfx-20240331.xsd (EX-101.SCH) — 42KB
• tfx-20240331_cal.xml (EX-101.CAL) — 72KB
• tfx-20240331_def.xml (EX-101.DEF) — 205KB
• tfx-20240331_lab.xml (EX-101.LAB) — 577KB
• tfx-20240331_pre.xml (EX-101.PRE) — 407KB
• tfx-20240331_htm.xml (XML) — 882KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

: Financial Statements (Unaudited)

Item 1: Financial Statements (Unaudited): 2 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Changes in Equity 6 Notes to Condensed Consolidated Financial Statements 7

: Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 20

: Quantitative and Qualitative Disclosures About Market Risk

Item 3: Quantitative and Qualitative Disclosures About Market Risk 27

: Controls and Procedures

Item 4: Controls and Procedures 27

— OTHER INFORMATION

PART II — OTHER INFORMATION

: Legal Proceedings

Item 1: Legal Proceedings 28

: Risk Factors

Item 1A: Risk Factors 28

: Unregistered Sales of Equity Securities and Use of Proceeds

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 28

: Defaults Upon Senior Securities

Item 3: Defaults Upon Senior Securities 28

: Mine Safety Disclosures

Item 4: Mine Safety Disclosures 28

: Other Information

Item 5: Other Information 28

: Exhibits

Item 6: Exhibits 29

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TELEFLEX INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended March 31, 2024 April 2, 2023 (Dollars and shares in thousands, except per share) Net revenues $ 737,849 $ 710,932 Cost of goods sold 321,715 319,552 Gross profit 416,134 391,380 Selling, general and administrative expenses 242,830 232,716 Research and development expenses 37,299 41,469 Pension settlement charge 138,139 — Restructuring and impairment charges 2,659 2,221 (Loss) income from continuing operations before interest and taxes ( 4,793 ) 114,974 Interest expense 22,683 18,337 Interest income ( 1,666 ) ( 843 ) (Loss) income from continuing operations before taxes ( 25,810 ) 97,480 (Benefit) taxes on income from continuing operations ( 41,551 ) 20,184 Income from continuing operations 15,741 77,296 Operating loss from discontinued operations ( 587 ) ( 711 ) Tax benefit on operating loss from discontinued operations ( 135 ) ( 163 ) Loss from discontinued operations ( 452 ) ( 548 ) Net income $ 15,289 $ 76,748 Earnings per share: Basic: Income from continuing operations $ 0.33 $ 1.65 Loss from discontinued operations ( 0.01 ) ( 0.02 ) Net income $ 0.32 $ 1.63 Diluted: Income from continuing operations $ 0.33 $ 1.63 Loss from discontinued operations ( 0.01 ) ( 0.01 ) Net income $ 0.32 $ 1.62 Weighted average common shares outstanding Basic 47,068 46,949 Diluted 47,394 47,285 The accompanying notes are an integral part of the condensed consolidated financial statements. 2 TELEFLEX INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended March 31, 2024 April 2, 2023 (Dollars in thousands) Net income $ 15,289 $ 76,748 Other comprehensive income, net of tax: Foreign currency: Foreign currency translation, net of tax of $( 2,638 ) and $ 2,970 for the three months periods, respectively ( 36,669 ) 18,570 Pension and other postretirement benefits p

View Full Filing

View this 10-Q filing on SEC EDGAR