Teleflex (TFX) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $570.3 million, up 28.9% year-over-year and 4.7% on a pro forma adjusted constant currency basis, driven by the VI Business acquisition and higher sales volumes.

• Adjusted EPS for Q2 2026 was $1.76, a 1.7% increase year-over-year; GAAP EPS was $0.96.

• OEM Strategic Divestiture closed for $1.5 billion ($1.25 billion after-tax), with proceeds used for debt reduction and share repurchases.

• Leadership transition underway with a new CEO appointed in June 2026, focusing on strategic assessment and operational rigor.

• Innovation milestones include FDA approval for EZPLAZ Freeze-Dried Plasma and clinical progress for Freesolve scaffold technology.

Financial highlights

• Q2 2026 revenue: $570.3 million (GAAP), up 28.9% year-over-year; pro forma adjusted constant currency growth of 4.7%.

• Adjusted EPS: $1.76 (Q2 2026) vs. $1.73 (Q2 2025); GAAP EPS: $0.96 (Q2 2026) vs. $1.54 (Q2 2025).

• Adjusted gross margin was 61.7%, down year-over-year due to tariffs and lower-margin VI business; GAAP gross margin was 58.2%.

• Adjusted operating margin was 19.6%, down year-over-year, reflecting higher expenses and R&D investment.

• Cash and equivalents at Q2 end: $316.9 million.

Outlook and guidance

• 2026 pro forma adjusted constant currency revenue growth guidance lowered to 3.5%-4.5%; GAAP revenue growth guidance reduced to 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, with a steady-state target of ~23% post-integration.

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

• Adjusted tax rate for 2026 expected at 12.25%.