Teleflex Q2 Earnings Up, Better Than View; Lifts Revenue Growth Outlook; Stock Up In Pre-market

(RTTNews) - Specialty medical devices provider Teleflex Incorporated (TFX) Thursday reported net income of $111.34 million or $2.35 per share in the second quarter, higher than $105.51 million or $2.23 per share in the same quarter a year ago, driven by revenue growth.

For the full year, the company has raised its revenue growth outlook.

Excluding one-time items, earnings were $3.41 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $3.21 per share. Analysts' estimates typically exclude special items.

Net revenues for the quarter increased to $743.26 million from $704.54 million last year. The consensus estimate was for $729.91 million.

The company now expects full-year revenue to grow in the range of 5.80% - 6.55% compared with 4.65% - 5.90% guided earlier. Analysts expect revenue to grow 5.3% for the year.

The company also reaffirmed its adjusted EPS from continuing operations outlook of $13.00 - $13.60. The consensus estimate stands at $13.31 per share.

Teleflex shares are up more than 5% in pre-market trading. It closed at $248.61, down 0.27% on Wednesday. The stock has been trading in the range of $182.65 - $276.43 in the last 52 weeks.