Teleflex Inc. Files 10-Q for Q2 2024

TL;DR

**TFLEX Q2 10-Q FILED. FINANCIALS OUT.**

AI Summary

Teleflex Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024 and provides financial updates. Key financial data and operational details for the period are presented in this report.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Teleflex Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a medical device company, Teleflex faces regulatory, competitive, and product liability risks inherent in the healthcare industry.

Key Numbers

• 2024 Q2 — Reporting Period (Second quarter of 2024 financial performance is detailed.)
• 2024-06-30 — End of Fiscal Period (The date as of which financial statements are presented.)
• 2024-08-02 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• TELEFLEX INC (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240802 (date) — Filing date
• WAYNE, PA (location) — Company headquarters location

FAQ

Key Financial Figures

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

Filing Documents

• tfx-20240630.htm (10-Q) — 1280KB
• tfx-2024630xex311.htm (EX-31.1) — 9KB
• tfx-2024630xex312.htm (EX-31.2) — 9KB
• tfx-2024630xex321.htm (EX-32.1) — 5KB
• tfx-2024630xex322.htm (EX-32.2) — 5KB
• 0000096943-24-000132.txt ( ) — 7162KB
• tfx-20240630.xsd (EX-101.SCH) — 41KB
• tfx-20240630_cal.xml (EX-101.CAL) — 73KB
• tfx-20240630_def.xml (EX-101.DEF) — 213KB
• tfx-20240630_lab.xml (EX-101.LAB) — 596KB
• tfx-20240630_pre.xml (EX-101.PRE) — 421KB
• tfx-20240630_htm.xml (XML) — 1142KB

— 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 22

: Quantitative and Qualitative Disclosures About Market Risk

Item 3: Quantitative and Qualitative Disclosures About Market Risk 30

: Controls and Procedures

Item 4: Controls and Procedures 30

— OTHER INFORMATION

PART II — OTHER INFORMATION

: Legal Proceedings

Item 1: Legal Proceedings 32

: Risk Factors

Item 1A: Risk Factors 32

: Unregistered Sales of Equity Securities and Use of Proceeds

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 32

: Defaults Upon Senior Securities

Item 3: Defaults Upon Senior Securities 32

: Mine Safety Disclosures

Item 4: Mine Safety Disclosures 32

: Other Information

Item 5: Other Information 32

: Exhibits

Item 6: Exhibits 33

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TELEFLEX INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (Dollars and shares in thousands, except per share) Net revenues $ 749,691 $ 743,259 $ 1,487,540 $ 1,454,191 Cost of goods sold 333,233 335,436 654,948 654,988 Gross profit 416,458 407,823 832,592 799,203 Selling, general and administrative expenses 250,631 223,306 493,461 456,022 Research and development expenses 41,094 39,448 78,393 80,917 Pension settlement charge — — 138,139 — Restructuring and impairment charges 7,855 1,508 10,514 3,729 Income from continuing operations before interest and taxes 116,878 143,561 112,085 258,535 Interest expense 21,168 17,762 43,851 36,099 Interest income ( 1,787 ) ( 1,156 ) ( 3,453 ) ( 1,999 ) Income from continuing operations before taxes 97,497 126,955 71,687 224,435 Taxes (benefit) on income from continuing operations 17,332 15,532 ( 24,219 ) 35,716 Income from continuing operations 80,165 111,423 95,906 188,719 Operating loss from discontinued operations ( 164 ) ( 114 ) ( 751 ) ( 825 ) Tax benefit on operating loss from discontinued operations ( 37 ) ( 26 ) ( 172 ) ( 189 ) Loss from discontinued operations ( 127 ) ( 88 ) ( 579 ) ( 636 ) Net income $ 80,038 $ 111,335 $ 95,327 $ 188,083 Earnings per share: Basic: Income from continuing operations $ 1.70 $ 2.37 $ 2.03 $ 4.02 Loss from discontinued operations — — ( 0.01 ) ( 0.02 ) Net income $ 1.70 $ 2.37 $ 2.02 $ 4.00 Diluted: Income from continuing operations $ 1.69 $ 2.35 $ 2.02 $ 3.99 Loss from discontinued operations — — ( 0.01 ) ( 0.01 ) Net income $ 1.69 $ 2.35 $ 2.01 $ 3.98 Weighted average common shares outstanding Basic 47,151 46,981 47,130 46,965 Diluted 47,361 47,329 47,378 47,307 The accompanying notes are an integral part of the condensed consolidated financial statements. 2 TELEFLEX INCORPORATED CONDENSED CONSOLIDATED STATEMEN

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View this 10-Q filing on SEC EDGAR