Teleflex (TFX) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 28.9% year-over-year to $570.3M, with 4.7% pro forma adjusted constant currency growth, driven by strong Vascular and Surgical performance and the VI Business acquisition, while Interventional integration delays impacted results.

• Adjusted EPS increased 1.7% to $1.76; GAAP EPS was $0.96, down from $1.54.

• Strategic transformation included the completed $1.5B OEM divestiture ($1.25B after-tax), with proceeds used for $700M debt repayment and $250M share repurchase; $750M remains under the $1B authorization.

• Innovation milestones achieved with FDA approval for EZPLAZ Freeze-Dried Plasma and clinical progress for Freesolve, including BIOMAG-II enrollment completion.

• Leadership changes included the appointment of Jason Weidman as CEO in June 2026.

Financial highlights

• Q2 2026 revenue: $570.3M, up 28.9% GAAP and 4.7% pro forma adjusted constant currency year-over-year; six months: $1,118.6M, up 30.6%.

• Adjusted EPS: $1.76, up 1.7% year-over-year; GAAP EPS: $0.96.

• Adjusted gross margin: 61.7% (down 280 bps YoY); GAAP gross margin: 58.2% (down 190 bps YoY).

• Adjusted operating margin: 19.6%; GAAP operating margin: 12.8%.

• Operating cash flow for six months: $138.6M (vs. -$9.3M prior year).

Outlook and guidance

• 2026 pro forma adjusted constant currency revenue growth guidance lowered to 3.5%-4.5%; GAAP revenue growth guidance at 13.4%-14.4%.

• Adjusted EPS guidance raised to $6.90-$7.20; GAAP EPS guidance reduced to $2.54-$2.84.

• Adjusted operating margin expected at ~19% for 2026; steady-state margin profile targeted at ~23%.

• Strategic and VI Business integration restructuring plans expected to yield $48–$52M and $24–$30M in annual pre-tax savings by 2028.

• Acute Care and Interventional Urology divestiture anticipated to close in Q4 2026.