Teleflex shares dip on Q4, 2018 earnings release, restructuring announcement

Shares in Teleflex (NYSE:TFX) have fallen today after the medical device maker released fourth quarter and full year 2018 earnings mostly in line with analysts expectations, as well as a 3-year, $56 million restructuring plan. The Wayne, Penn.-based company posted profits of approximately $90.6 million, or $1.93 per share, on sales of $641.6 million for the three months ended December 31, seeing a swing from red ink on the bottom line while sales grew 7.8% compared with the same period during the previous year. Adjusted to exclude one-time items, earnings per share were $2.77, just ahead of the $2.76 consensus on Wall Street where analysts expected to see sales of approximately $640.1 million, which the company topped. For the full year, Teleflex posted profits of $200.8 million, or $4.29 per share, on sales of approximately $2.45 billion, for bottom-line growth of 31.6% while sales grew 14.1% compared with the previous year. After adjusting to exclude one-time items, earnings per share were $9.90, just ahead of the $9.89 consensus on Wall Street, where analysts expected to see sales of $2.45 billion, which the company met. “The fourth quarter of 2018 marks the close of a strong year for Teleflex, led by robust revenue growth in interventional urology and interventional access, as well as many of our legacy product lines. Interventional urology revenues for the full year 2018 were $196.7 million, an increase of nearly 57%, reflecting continued physician adoption of the...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured MassDevice Earnings Roundup Wall Street Beat Teleflex Source Type: news