Teleflex Reports Higher Earnings Above Estimates; Updates Guidance

(RTTNews) - Teleflex Incorporated (TFX) on Thursday reported income from continuing operations of $199.51 million or $4.20 per share in the third quarter, higher than $116.61 million or $2.46 per share in the same quarter a year ago.

The company had expenses of $91.16 million in the current quarter, related to sale of business.

Excluding items, earnings from continuing operations were $3.51 per share, that beat the average estimate of ten analysts polled by Thomson Reuters at $3.03 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $700.25 million from $628.3 million last year. The consensus estimate was for $698.26 million.

Looking forward to the full-year, the company has raised its adjusted EPS outlook to the range of $13.1-$13.35 from $12.90-$13.10. Analysts expect earnings of $12.8 per share.

However, the company has reduced its revenue growth guidance to 10%-11% for the year from from 10.50% to 11.75% due to greater than anticipated headwinds from COVID-19.