TELEFLEX INCORPORATED Reports Fourth Quarter Earnings Results For FY2022
March 7, 2023
Earnings Overview
On February 23, 2023, TELEFLEX INCORPORATED ($NYSE:TFX) reported its earnings results for the fourth quarter of Fiscal Year 2022, which ended on December 31, 2022. With total revenue of USD 78.6 million, the company experienced a 38.6% decrease in comparison to the prior year period. Additionally, net income decreased by 0.5% to USD 758.0 million year over year.
Transcripts Simplified
Teleflex Incorporated reported fourth quarter 2022 adjusted gross margin of 60%, a 120 basis point increase from the prior year period. The growth was driven by price, foreign exchange and mix, partly offset by incremental inflation. Adjusted operating margin was 27.9%, a 30 basis point increase from the prior year. Net interest expense for the quarter totaled $18.7 million, up from $11.8 million in the prior year period. The adjusted tax rate for the fourth quarter of 2022 was 13.6%, compared to 13.8% in the prior year period.
Fourth quarter adjusted earnings per share was $3.52, a decrease of 2.2% versus prior year. Cash flow from operations in 2022 was $342.8 million, compared to $652.1 million in the prior year period. Net leverage at the end of the fourth quarter was approximately 1.8 times. For 2023, Teleflex expects constant currency revenue growth of 4.75% to 6.25%.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Teleflex Incorporated. More…
| Total Revenues | Net Income | Net Margin |
| 2.79k | 363.14 | 13.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Teleflex Incorporated. More…
| Operations | Investing | Financing |
| 342.14 | -257.94 | -217.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Teleflex Incorporated. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.93k | 2.91k | 85.71 |
Key Ratios Snapshot
Some of the financial key ratios for Teleflex Incorporated are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.5% | 5.0% | 17.9% |
| FCF Margin | ROE | ROA |
| 9.4% | 7.9% | 4.5% |
Stock Price
TELEFLEX INCORPORATED stock opened at $229.8, and closed at $235.8, down by 2.1% from its previous closing price of $240.8. The company’s strong performance was driven by organic and inorganic growth, as well as cost savings initiatives. Furthermore, the company has seen strong demand across all of its product lines and regions, with particular strength in Europe and the Americas. Live Quote…
Analysis
At GoodWhale, we conducted a comprehensive financial analysis of TELEFLEX INCORPORATED. After taking into account numerous indicators, our Risk Rating system determined that TELEFLEX INCORPORATED is a medium risk investment when it comes to financial and business aspects. However, our system also detected two risk warnings in the income sheet and balance sheet of TELEFLEX INCORPORATED. If you want to know more about these warnings, we recommend registering with us to check it out. Our team of experts will be more than happy to provide you with comprehensive insights into the company’s financial standing. More…
Peers
Teleflex Inc., a leading global provider of medical technologies, offers a broad range of products and services for use in critical care and surgery. The company’s products are used by hospitals and other healthcare facilities worldwide. Teleflex’s competitors include Delta Asia International Corp, Meihua International Medical Technologies Co Ltd, and Shanghai Sanyou Medical Co Ltd.
– Delta Asia International Corp ($TPEX:6762)
Daiwa-Asia International Corp is a leading provider of financial services in Asia. The company offers a wide range of products and services, including banking, insurance, asset management, and securities brokerage. Daiwa-Asia has a strong presence in the region, with operations in Hong Kong, Singapore, Taiwan, China, and Japan. The company is listed on the Tokyo Stock Exchange and has a market capitalization of 5.54 billion as of 2022. Daiwa-Asia reported a return on equity of 11.54% for the year ended March 31, 2022.
– Meihua International Medical Technologies Co Ltd ($NASDAQ:MHUA)
Meihua International Medical Technologies Co Ltd is a Chinese medical technology company. It has a market cap of 191.52M as of 2022 and a Return on Equity of 16.31%. The company develops, manufactures, and sells medical devices and equipment. Its products include stents, catheters, and other cardiovascular products.
– Shanghai Sanyou Medical Co Ltd ($SHSE:688085)
Shanghai Sanyou Medical Co Ltd is a medical company with a market cap of 7.06B as of 2022 and a Return on Equity of 8.19%. The company specializes in the manufacture and sale of medical equipment and supplies. It is headquartered in Shanghai, China.
Summary
TELEFLEX INCORPORATED reported fourth quarter earnings for FY2022 ending December 31, 2022 on February 23, 2023. Total revenue was USD 78.6 million, a decrease of 38.6% compared to the same period the previous year. Net income was USD 758.0 million, a decrease of 0.5% year over year.
Investors may be concerned about the lower revenue and income figures, however, it appears that the company is still managing its finances well. Investors should consider the company’s long-term prospects, such as its product portfolio, customer base and competitive position in the market, before making a decision.
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