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Public Employees Retirement System of Ohio purchased a new stake in Teleflex Incorporated (NYSE:TFX – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,584 shares of the medical technology company’s stock, valued at approximately $1,595,000.

Several other institutional investors have also recently made changes to their positions in TFX. Corient Private Wealth LP bought a new stake in Teleflex in the 2nd quarter valued at about $3,006,000. Bank of America Corp DE bought a new position in Teleflex in the second quarter worth approximately $61,156,000. Boone Capital Management LLC bought a new position in Teleflex in the second quarter worth approximately $49,105,000. Freestone Grove Partners LP acquired a new stake in Teleflex in the second quarter valued at approximately $9,070,000. Finally, Man Group plc acquired a new stake in Teleflex in the second quarter valued at approximately $1,686,000. Institutional investors and hedge funds own 95.62% of the company’s stock.

Analysts Set New Price Targets Several research firms have recently commented on TFX. Mizuho boosted their price objective on Teleflex from $140.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Truist Financial increased their target price on Teleflex from $143.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Wall Street Zen raised shares of Teleflex from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. UBS Group upped their price objective on shares of Teleflex from $145.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets began coverage on Teleflex in a report on Wednesday, July 8th. They set an “outperform” rating and a $159.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Teleflex currently has a consensus rating of “Hold” and an average price target of $152.90.

Read Our Latest Stock Report on TFX Teleflex Stock Performance NYSE TFX opened at $138.21 on Tuesday. Teleflex Incorporated has a 1 year low of $100.18 and a 1 year high of $145.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.60 and a quick ratio of 2.12. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of -5.93, a PEG ratio of 0.92 and a beta of 0.82. The company has a fifty day moving average price of $135.50 and a 200-day moving average price of $127.52.

Teleflex (NYSE:TFX – Get Free Report) last announced its earnings results on Thursday, August 6th. The medical technology company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.28 by $0.48. Teleflex had a negative net margin of 39.67% and a positive return on equity of 11.93%. The company had revenue of $570.33 million during the quarter, compared to the consensus estimate of $559.59 million. During the same quarter in the prior year, the company posted $3.73 earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Teleflex has set its FY 2026 guidance at 6.900-7.200 EPS. As a group, equities research analysts predict that Teleflex Incorporated will post 7.26 EPS for the current fiscal year.

Teleflex Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, August 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.36 annualized dividend and a dividend yield of 1.0%. Teleflex’s dividend payout ratio (DPR) is currently -5.84%.

Teleflex Company Profile (Free Report)

Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company’s offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.

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Bank of New York Mellon Corp purchased a new position in Teleflex Incorporated (NYSE:TFX – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 263,156 shares of the medical technology company’s stock, valued at approximately $33,358,000. Bank of New York Mellon Corp owned about 0.59% of Teleflex as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFX. Kelleher Financial Advisors purchased a new stake in Teleflex during the 2nd quarter valued at $25,000. Banque Cantonale Vaudoise raised its stake in shares of Teleflex by 82.5% in the fourth quarter. Banque Cantonale Vaudoise now owns 250 shares of the medical technology company’s stock worth $31,000 after purchasing an additional 113 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Teleflex by 57.1% during the fourth quarter. UMB Bank n.a. now owns 311 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 113 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Teleflex during the fourth quarter valued at $45,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Teleflex by 40.5% during the fourth quarter. Hantz Financial Services Inc. now owns 392 shares of the medical technology company’s stock valued at $48,000 after buying an additional 113 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

Wall Street Analysts Forecast Growth TFX has been the topic of several research analyst reports. BMO Capital Markets started coverage on Teleflex in a report on Wednesday, July 8th. They set an “outperform” rating and a $159.00 price target on the stock. Mizuho boosted their price target on Teleflex from $140.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Truist Financial increased their price objective on shares of Teleflex from $143.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Wells Fargo & Company raised their price objective on shares of Teleflex from $130.00 to $138.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Raymond James Financial restated an “outperform” rating and set a $150.00 target price on shares of Teleflex in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $152.90.

Read Our Latest Stock Analysis on TFX Teleflex Stock Up 1.5% Shares of NYSE TFX opened at $139.81 on Friday. The company has a current ratio of 2.60, a quick ratio of 2.12 and a debt-to-equity ratio of 0.94. Teleflex Incorporated has a 12-month low of $100.18 and a 12-month high of $145.00. The firm’s 50-day moving average price is $133.86 and its 200-day moving average price is $125.91. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of -6.00, a P/E/G ratio of 0.92 and a beta of 0.81.

Teleflex (NYSE:TFX – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical technology company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.28 by $0.48. The company had revenue of $570.33 million during the quarter, compared to analyst estimates of $559.59 million. Teleflex had a positive return on equity of 11.93% and a negative net margin of 39.67%.The firm’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the business posted $3.73 earnings per share. Teleflex has set its FY 2026 guidance at 6.900-7.200 EPS. On average, equities research analysts anticipate that Teleflex Incorporated will post 7.26 EPS for the current fiscal year.

Teleflex Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, August 14th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, August 14th. This represents a $1.36 dividend on an annualized basis and a yield of 1.0%. Teleflex’s payout ratio is presently -5.84%.

Teleflex Profile (Free Report)

Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company’s offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.

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Teleflex NYSE: TFX reported second-quarter revenue and adjusted earnings above its expectations, supported by strong growth in its Vascular and Surgical businesses, while slower-than-anticipated integration of its acquired Vascular Intervention business weighed on Interventional results.

Revenue from continuing operations totaled $570.3 million in the second quarter, up 28.9% on a GAAP basis and 4.7% on a pro forma adjusted constant-currency basis. Adjusted earnings per share rose 1.7% year over year to $1.76. Adjusted operating margin was 19.6%.

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President and CEO Jason Weidman, who said he has spent his first two months visiting sites, meeting employees and customers, and reviewing the portfolio, said the company is focused on completing divestitures, reducing debt, repurchasing shares and addressing stranded costs. He described 2026 as a transition year and said the company expects a “meaningful step-up” in financial performance in 2027 and beyond.

Segment Performance Vascular revenue increased 8% year over year to $246.3 million, driven primarily by hemostatic products and the central access portfolio. Surgical revenue rose 9.2% to $112.1 million, led by ligation clips, instruments and skin staplers.

Interventional revenue declined 1% to $211.9 million. While hemostatic products, right-heart catheters, intraosseous products and complex catheters outperformed, Weidman said the business was affected by continuing integration and restructuring activity following the Vascular Intervention acquisition.

Weidman said the issues were not product-related and identified three main transition areas: order-to-cash system changes, distributor transitions and sales-force realignment. He said the acquired BIOTRONIK Vascular Intervention revenue base was disproportionately affected by the disruption.

The company had initially expected the integration to be largely completed around the middle of 2026, but now expects full integration to extend through the second half. Weidman said Teleflex has mitigation plans in place and has “really good confidence” it can work through the issues by year-end, although sales-force ramping will occur gradually as new hires and training progress.

Management said Vascular and Surgical are expected to continue performing solidly in the second half, though at more moderate growth rates than in the first half. Teleflex cited some inventory buildup at major Vascular distributors and tougher comparisons in Surgical, particularly in its instrument portfolio. The company said it has not seen an impact from broader procedure-volume trends or from the expiration of Affordable Care Act subsidies.

Divestitures, Debt Reduction and Buybacks Teleflex completed the sale of its OEM business during the quarter, generating approximately $1.5 billion in proceeds, or an estimated $1.25 billion after tax. The company used a portion of the proceeds to repay the $700 million Term Loan A-2 associated with its Vascular Intervention acquisition.

The company remains committed to its previously announced plan to reduce debt by $800 million and return $1 billion to shareholders through share repurchases. During the second quarter, Teleflex repurchased about 1.9 million shares for $250 million in open-market purchases, at an average price of $130.85 per share.

Teleflex also said it intends to begin an additional $250 million accelerated share repurchase on Aug. 7. Management said it expects the remaining $500 million of its repurchase plan to be funded largely with proceeds from the pending sale of its Acute Care and Interventional Urology businesses.

That transaction remains expected to close in the fourth quarter of 2026, subject to regulatory approval and other closing conditions. The Federal Trade Commission issued a second request for information in March, and Teleflex said both parties are cooperating with the review.

Net leverage was about 2.8 times at the end of the second quarter, while pro forma net leverage following the OEM divestiture was about 1.9 times, according to CFO John Deren.

Updated 2026 Outlook Teleflex lowered its full-year outlook for pro forma adjusted constant-currency revenue growth to 3.5% to 4.5%, from its prior range of 4.5% to 5.5%. The reduction reflects first-half performance and the longer timeline for Interventional integration.

Weidman said the lower end of the range assumes no improvement in Interventional revenue from second-quarter levels for the remainder of the year, along with typical third-quarter seasonality.

Adjusted EPS guidance was raised to $6.90 to $7.20, from $6.25 to $6.55. Adjusted operating margin is still expected to be approximately 19% for 2026. Full-year net interest expense is now expected to be about $85 million, down from a prior estimate of about $105 million. The adjusted tax rate is expected to be approximately 12.25%, compared with the prior outlook of roughly 13.5%. Deren said the higher earnings outlook reflects second-quarter share repurchases and lower expected interest expense. Guidance does not include potential benefits from the pending Acute Care and Interventional Urology sale, additional second-half repurchases beyond the announced accelerated program, or tariff refunds.

The company expects about $39 million in tariff refunds in cash overall, according to Deren, though the timing remains uncertain. Teleflex said approximately $15 million related to 2026 tariffs recorded in the first half could be recognized in earnings once confirmed by the U.S. government.

Innovation Programs Teleflex highlighted recent progress in its innovation pipeline. The FDA granted biologics license approval in late July for EZPLAZ Freeze-Dried Plasma, which is approved for adults with uncontrolled traumatic bleeding when plasma is required and other plasma products are unavailable. The product is designed for use in settings such as battlefields and air or road ambulances, where traditional plasma products can face logistical constraints.

Weidman said Teleflex’s immediate priority for EZPLAZ is the U.S. government and military market. He expects any 2026 revenue to be immaterial but said the product should contribute in 2027.

The company also advanced its Freesolve drug-eluting resorbable magnesium scaffold program. Teleflex completed enrollment ahead of schedule for the BIOMAG-II randomized trial outside the U.S., with a data readout expected in late 2027. It also initiated the U.S. BIOMAG-III pivotal trial, with the first patient procedures completed in June.

Weidman said the company is encouraged by early clinical data and views Freesolve as a potential option in coronary and endovascular procedures that seek to “leave nothing behind.”

About Teleflex (NYSE:TFX)Teleflex Incorporated is a diversified global provider of medical technologies, specializing in critical care and surgery. Headquartered in Wayne, Pennsylvania, the company designs, manufactures and distributes devices and solutions used by healthcare professionals in hospital, ambulatory and alternate site settings. Teleflex focuses on delivering products that support complex interventional procedures and improve patient outcomes.

The company's offerings span several key segments, including Interventional Urology, Respiratory & Anesthesia, Surgical, Cardiac Care, Vascular and Original Equipment Manufacturer (OEM) solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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WAYNE, Pa.--(BUSINESS WIRE)--Teleflex Incorporated (NYSE: TFX) (the “Company”) today announced financial results for the second quarter ended June 30, 2026.

Second quarter 2026 continuing operations financial summary1

Revenue from continuing operations of $570.3 million, up 28.9% compared to the prior year period, and up 4.7% on a pro forma adjusted constant currency basis1,2 GAAP diluted EPS from continuing operations of $0.96, compared to $1.54 in the prior year period Adjusted diluted EPS from continuing operations of $1.76, compared to $1.73 in the prior year period "We delivered a strong second quarter, led by excellent performance in our Vascular and Surgical businesses, while continuing to take decisive actions to strengthen the company for the future,” said Jason Weidman, Teleflex's President and Chief Executive Officer. “The completion of the OEM divestiture marks a pivotal step in our transformation, enabling greater focus on our core businesses, a stronger balance sheet, and increased financial flexibility to further reduce debt, return capital to shareholders, and invest in the opportunities that will drive long-term growth. We also made meaningful progress advancing our innovation pipeline, including important milestones for Freesolve and the Food and Drug Administration approval for EZPLAZ, reinforcing our commitment to bringing differentiated solutions to the market.”

Mr. Weidman continued, "Integration of the acquired Biotronik Vascular Intervention business is progressing, though taking longer than expected, and we updated our revenue outlook accordingly. Importantly, the delay is attributable to elongated integration timelines and not the underlying product portfolio, which remains competitively well positioned. We remain confident in the long-term strategic and financial prospects of this business as part of Teleflex, and have a number of mitigation actions underway to address the primary drivers of the delay. Our updated outlook also reflects the benefits of our disciplined capital allocation actions, including an increase to our adjusted EPS guidance."

Turning to his priorities as CEO, Weidman said: "I’m encouraged by the progress our team is making across the organization. Looking ahead, I am focused on completing a thorough assessment of the business and sharpening our strategic and operating plan to maximize shareholder value. My priorities are operational rigor, accelerating our innovation-driven platforms, and disciplined capital deployment. We believe these efforts will position Teleflex to deliver a meaningfully stronger financial profile in 2027 and beyond."

2026 continuing operations guidance summary1

Reducing GAAP revenue growth guidance range to 13.40% to 14.40% Reducing GAAP EPS from continuing operations guidance range to $2.54 to $2.84 Reducing pro forma adjusted constant currency revenue growth guidance range to 3.50% to 4.50%2 Increasing Adjusted diluted EPS from continuing operations guidance range to $6.90 to $7.20 Includes an assumption of approximately 19% adjusted operating margin for 2026 inclusive of transition services ("TS") associated with the close of the OEM Strategic Divestiture Reflects execution of capital allocation strategy including $250 million of share repurchase activity in the second quarter of 2026 and pay off of ~$700 million Term Loan A-2 Excludes expected benefits from TS and manufacturing services ("MS") agreements that come into effect upon closing the Acute Care and Interventional Urology Strategic Divestiture Excludes the impact of the announced $250 million Accelerated Share Repurchase and other anticipated future repurchases under previously announced $1 billion share repurchase program primarily funded with proceeds from the Strategic Divestitures Adjusted diluted EPS from continuing operations excludes any impact of potential IEEPA tariff refunds (1) Continuing operations excludes the Acute Care, Interventional Urology, and OEM businesses that were classified as discontinued operations during the fourth quarter of 2025 as a result of our entry into agreements to divest those businesses, which we refer to as the “Strategic Divestitures".

(2) Pro forma adjusted constant currency revenue growth includes revenue generated by the acquired Vascular Intervention business in the prior year period, and excludes (a) revenue generated by products previously included within continuing operations that were discontinued at the end of 2025 due to a strategic realignment, (b) the impact of the Italian payback measure, and (c) the impact of foreign exchange.

INNOVATION PIPELINE UPDATE

EZPLAZ BLA Approval

In late July, Teleflex received BLA approval from the U.S. Food and Drug Administration for EZPLAZ™ Freeze Dried Plasma, the first freeze-dried plasma licensed by the FDA. EZPLAZ expands the emergency medicine portfolio within the Company’s Vascular business and is approved for transfusion in adults with bleeding-related conditions requiring replacement of plasma coagulation factors, including uncontrolled bleeding (hemorrhage) when plasma is required and other plasma products are unavailable, including in combat and prehospital settings.

Freesolve Clinical Program Advances

Within Interventional, Teleflex continued to advance its clinical program for Freesolve™, a novel drug-eluting resorbable magnesium scaffold. During the quarter, the Company presented four-year follow-up data from the BIOMAG-I study demonstrating sustained long-term performance and a favorable long-term safety profile; completed enrollment, ahead of schedule, in the BIOMAG-II study, the first randomized controlled trial of Freesolve conducted outside the United States, positioning the Company for a data readout in late 2027; and initiated the U.S. BIOMAG-III pivotal trial, with first patient procedures completed in June at MedStar Washington Hospital Center.

CAPITAL ALLOCATION AND BALANCE SHEET ACTIVITY

OEM Divestiture and Debt Reduction

As previously disclosed, the Company completed the divestiture of its OEM business to Montagu and Kohlberg, for $1.5 billion in cash. The Company estimates after-tax proceeds of approximately $1.25 billion. The Company paid off its $700 million Term Loan A-2 associated with our acquisition of substantially all of Biotronik's Vascular Intervention business.

Share Repurchase

As previously disclosed, on December 9, 2025, the Board of Directors authorized a share repurchase program for up to $1 billion of the Company's common stock. During the second quarter, as part of the share repurchase program, the Company repurchased 1.9 million shares of common stock for $250 million through open market transactions at an average price per share of $130.85. As of June 30, 2026, the Company had $750 million remaining available under the authorization.

Also under the $1 billion share repurchase program, the Company intends to commence an accelerated share repurchase of $250 million of common stock, effective August 7, 2026.

Senior Credit Facility and Notes

During the second quarter, the Company entered into a new credit agreement, which effectuated the refinancing of the Company’s prior credit agreement. The new credit agreement provides for, among other things, a $1 billion revolving credit facility and a $500 million term A-1 loan facility, both of which mature on May 26, 2031, and a $700 million term A-2 loan facility, which matures on May 26, 2028.

Also during the second quarter, the Company completed a private offering of $500 million aggregate principal amount of 5.875% senior notes due 2032. The Company used the net proceeds, together with cash on hand, to redeem all of its outstanding 4.625% Senior Notes due 2027.

NET REVENUE BY GLOBAL PRODUCT CATEGORY

The following table provides information regarding net revenues in each of the Company's global product categories for the three and six months ended June 30, 2026 and the comparable prior year period on both a GAAP and pro forma adjusted constant currency basis.

Three Months Ended

June 30, 2026

June 29, 2025

% Increase

/

(Decrease)

Reported

revenue

Adjustment

Pro Forma

Adjusted

Revenue

Reported

revenue

Adjustment

Pro Forma

Adjusted

Revenue

Reported

Revenue

Growth

Currency

Impact

Adjustment

impact

Pro Forma

Adjusted

Constant

Currency

Revenue

Growth

Vascular

$246.3

$—

$246.3

$225.9

$—

$225.9

9.0%

1.0%

—%

8.0%

Interventional1

211.9

—

211.9

113.8

100.4

214.2

86.1%

(0.2)%

87.3%

(1.0)%

Surgical2

112.1

—

112.1

102.8

(0.5)

102.3

9.1%

0.3%

(0.4)%

9.2%

Consolidated1

$570.3

$—

$570.3

$442.5

$99.9

$542.4

28.9%

0.4%

23.8%

4.7%

Six Months Ended

June 30, 2026

June 29, 2025

% Increase

/

(Decrease)

Reported

revenue

Adjustment

Pro Forma

Adjusted

Revenue

Reported

revenue

Adjustment

Pro Forma

Adjusted

Revenue

Reported

Revenue

Growth

Currency

Impact

Adjustment

impact

Pro Forma

Adjusted

Constant

Currency

Revenue

Growth

Vascular

$483.2

$—

$483.2

$445.0

$—

$445.0

8.6%

2.2%

—%

6.4%

Interventional1

416.5

—

416.5

214.0

193.0

407.0

94.6%

1.4%

92.3%

0.9%

Surgical2

218.9

—

218.9

197.8

(1.0)

196.8

10.7%

1.7%

(0.6)%

9.6%

Consolidated1

$1,118.6

$—

$1,118.6

$856.8

$192.0

$1,048.8

30.6%

1.8%

23.9%

4.9%

OTHER CONTINUING OPERATIONS FINANCIAL HIGHLIGHTS

Depreciation expense, amortization of intangible assets and deferred financing charges for the six months ended June 30, 2026 totaled $106.5 million compared to $77.2 million for the prior year period. Total cash, cash equivalents and restricted cash equivalents at June 30, 2026 were $316.9 million compared to $402.7 million at December 31, 2025. Net accounts receivable at June 30, 2026 were $364.6 million compared to $345.6 million at December 31, 2025. Inventories at June 30, 2026 were $351.9 million compared to $404.4 million at December 31, 2025. 2026 CONTINUING OPERATIONS OUTLOOK

On a GAAP basis, the Company reduced its full year 2026 revenue growth from continuing operations outlook to 13.40% to 14.40%, including our estimate of an approximately 0.70% positive impact of foreign exchange rate fluctuations. On a pro forma adjusted constant currency basis, the Company reduced its full year 2026 revenue growth from continuing operations outlook to 3.50% to 4.50%.

The Company reduced its full year 2026 GAAP diluted earnings per share from continuing operations outlook range of $2.54 to $2.84. The Company increased its full year 2026 adjusted diluted earnings per share from continuing operations outlook to $6.90 to $7.20.

Forecasted 2026 Pro Forma Adjusted Revenue From Continuing Operations Reconciliation

2025

2026 Guidance

Low

High

GAAP revenue

$1,992.7

$2,260

$2,280

Vascular Intervention pro forma adjustment

$199.0

—

—

Discontinued product adjustment

$(14.3)

—

—

Italian payback measure adjustment

$(9.0)

—

—

Pro forma adjusted revenue

$2,168.4

$2,260

$2,280

Forecasted 2026 Pro Forma Adjusted Constant Currency Revenue Percent Growth From Continuing Operations Reconciliation

Low

High

Forecasted 2026 GAAP revenue growth

13.4%

14.4%

Vascular Intervention pro forma adjustment

10.0%

10.0%

Discontinued product adjustment

(0.7)%

(0.7)%

Italian payback measure adjustment

(0.5)%

(0.5)%

Base year adjustment (GAAP versus pro forma adjusted)

0.4%

0.4%

Estimated impact of foreign currency exchange rate fluctuations

0.7%

0.7%

Forecasted 2026 pro forma adjusted constant currency revenue growth

3.5%

4.5%

Forecasted 2026 Adjusted Diluted Earnings Per Share From Continuing Operations Reconciliation

Low

High

Forecasted GAAP diluted earnings per share from continuing operations

$2.54

$2.84

Restructuring and optimization items, net of tax

$0.98

$0.98

Acquisition, integration and divestiture related items, net of tax

$0.73

$0.73

Other items, net of tax

$(0.42)

$(0.42)

ERP implementation, net of tax

$0.31

$0.31

MDR, net of tax

$0.02

$0.02

Intangible amortization expense, net of tax

$2.74

$2.74

Forecasted adjusted diluted earnings per share from continuing operations, net of tax

$6.90

$7.20

CONFERENCE CALL WEBCAST AND ADDITIONAL INFORMATION

A webcast of Teleflex's second quarter 2026 investor conference call can be accessed live from a link on the Company's website at teleflex.com. The call will begin at 8:00 am ET on August 6, 2026.

An audio replay of the investor call will be available beginning at 11:00 am ET on August 6, 2026, either on the Teleflex website or by telephone. The call can be accessed by dialing 1 800 770 2030 (U.S. and Canada) or 1 609 800 9909 (all other locations). The confirmation code is 69028.

ADDITIONAL NOTES

References in this release to the impact of foreign currency exchange rate fluctuations on adjusted diluted earnings per share include both the impact of translating foreign currencies into U.S. dollars and the impact of foreign currency exchange rate fluctuations on foreign currency denominated transactions.

In the discussion of segment results, "new products" refers to products for which we initiated commercial sales within the past 36 months and "existing products" refers to products we have sold commercially for more than 36 months.

Pro forma adjusted revenue and pro forma adjusted constant currency revenue growth give effect to, among other things, our acquisition of the Vascular Intervention business from BIOTRONIK SE & Co. KG as if it had occurred on January 1, 2025. The pro forma information is presented for informational purposes only and is not necessarily indicative of the historical results that would have occurred under our ownership and management, nor the results that may be obtained in the future.

Certain financial information is presented on a rounded basis, which may cause minor differences. Segment results and commentary exclude the impact of discontinued operations.

NOTES ON NON-GAAP FINANCIAL MEASURES

We report our financial results in accordance with accounting principles generally accepted in the United States, commonly referred to as “GAAP”. In this press release, we provide supplemental information, consisting of the following non-GAAP financial measures: pro forma adjusted revenues, pro form adjusted constant currency revenue growth, and adjusted diluted earnings per share. These non-GAAP measures are described in more detail below. Management uses these financial measures to assess Teleflex’s financial performance, make operating decisions, allocate financial resources, provide guidance on possible future results, and assist in its evaluation of period-to-period and peer comparisons. The non-GAAP measures may be useful to investors because they provide insight into management’s assessment of our business, and provide supplemental information pertinent to a comparison of period-to-period results of our ongoing operations. The non-GAAP financial measures are presented in addition to results presented in accordance with GAAP and should not be relied upon as a substitute for GAAP financial measures. Moreover, our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.

Pro forma adjusted revenue: This non-GAAP measure is based upon net revenues, adjusted to (i) exclude products discontinued in the year ended December 31, 2025 due to a strategic realignment; (ii) exclude the items described in Italian payback measure; and (iii) give effect to our acquisition of the Vascular Intervention business from BIOTRONIK SE & Co. KG as if it had occurred on January 1, 2025.

Pro forma adjusted constant currency revenue growth: This non-GAAP measure is based upon net revenues, adjusted to exclude, depending on the period presented, the items described in Pro forma adjusted revenue and to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and such changes generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of currency exchange rate fluctuations that do not reflect our underlying performance or business trends.

Adjusted diluted earnings per share: This non-GAAP measure is based upon diluted earnings per share from continuing operations, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the items described below. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends.

Restructuring and optimization charges - Restructuring and optimization charges include expenses associated with discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies, integrate acquired businesses and optimize product portfolios through targeted optimization efforts. These changes include qualified restructuring costs (which may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement), restructuring related (which may include accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of a restructuring program) and product line exit charges.

Impairment charges - Impairment charges, including those related to goodwill, and other assets occur if, due to events or changes in circumstances, we determine that the carrying value of an asset exceeds its fair value. Impairment charges do not directly affect our liquidity, but could have a material adverse effect on our reported financial results.

Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration liabilities; temporary financing costs directly associated with the transaction, such as bridge loan financing fees, ticking fees, and similar charges, and the impact of derivative instruments executed to hedge foreign currency exposure or other risks associated with the purchase price. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of a divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities.

Separation costs - These are expenses related to the Strategic Divestitures, including activities to prepare the businesses for divestiture and maintain continuity through the separation process. These charges and costs do not represent normal and recurring operating expenses, will be inconsistent in amounts and frequency, and are not expected to recur after the transaction and related transition services agreements and other arrangements negotiated in connection with the Strategic Divestitures have been completed.

Italian payback measure - The Italian payback measure is a law that requires suppliers of medical devices to the Italian National Healthcare System to make payments to the Italian government if medical device expenditures in a given year exceed regional expenditure ceilings established for that year. As a result of a ruling from the Italian courts, we recognized a decrease in our reserves during the year ended December 31, 2024, of which $13.8 million related to prior years when including discontinued operations and $6.2 million on a continuing operations basis. In August 2025, the Italian Parliament enacted a modification to the previously enacted legislation that reduced the payment amounts due from the affected companies, including Teleflex, to approximately 25% of the amounts originally invoiced for the years 2015 through 2018. As a result of the modification in the legislation, along with an adjustment to our calculation of the reserves related to years 2019 through 2025, we recognized a $23.7 million decrease in our reserve (and corresponding increase to revenue for the year ended December 31, 2025), of which $20.1 million pertains to prior periods when including discontinued operations and $9.0 million on a continuing operations basis. The amounts do not represent normal adjustments to revenue and are nonrecurring in nature, making it difficult to contribute to a meaningful evaluation of our period over period operating performance.

Other - These are discrete items that occur sporadically and can affect period-to-period comparisons.

European medical device regulation - The European Union (“EU”) has adopted the EU Medical Device Regulation (“MDR”), which replaces the existing Medical Devices Directive (“MDD”) and imposes more stringent requirements for the marketing and sale of medical devices in the EU, including requirements affecting clinical evaluations, quality systems and post-market surveillance. The MDR requirements became effective in May 2021, although certain devices that previously satisfied MDD requirements can continue to be marketed in the EU until December 2027 for highest-risk devices and December 2028 for lower-risk devices, subject to certain limitations. Significantly, the MDR will require the re-registration of previously approved medical devices. As a result, Teleflex will incur expenditures in connection with the new registration of medical devices that previously had been registered under the MDD. Therefore, these expenditures are not considered to be ordinary course expenditures in connection with regulatory matters (in contrast, no adjustment has been made to exclude expenditures related to the registration of medical devices that were not registered previously under the MDD).

Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions.

ERP implementation - These adjustments represent direct and incremental costs incurred in connection with our implementation of a new global enterprise resource planning ("ERP") solution and related IT transition costs. An implementation of this scale is a significant undertaking and will require substantial time and attention of management and key employees. The associated costs do not represent normal and recurring operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance.

Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law or certain other discrete changes affecting our deferred tax liability.

PRO FORMA ADJUSTED REVENUE BY GLOBAL PRODUCT CATEGORY

The following table provides information regarding pro forma adjusted revenues in each of the Company's global product categories in continuing operations for the three and six months ended June 30, 2026 and the comparable prior year period.

Three Months Ended

Six Months Ended

June 30, 2026

June 29, 2025

June 30, 2026

June 29, 2025

Vascular

246.3

225.9

483.2

445.0

Interventional

211.9

113.8

416.5

214.0

Surgical

112.1

102.8

218.9

197.8

GAAP revenue

570.3

442.5

1,118.6

856.8

Interventional - Vascular Intervention

—

103.8

—

199.0

Interventional - Discontinued Products

—

(3.4)

—

(6.0)

Surgical - Discontinued Products

—

(0.5)

—

(1.0)

Pro forma adjusted revenue

$570.3

$542.4

$1,118.6

$1,048.8

Vascular

246.3

225.9

483.2

445.0

Interventional

211.9

214.2

416.5

407.0

Surgical

112.1

102.3

218.9

196.8

Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data)

  Three Months Ended June 30, 2026

Revenue

Gross

margin

SG&A (1)

R&D (1)

Operating

margin (2)

Income before

income taxes

Income tax

expense

Effective

income tax

rate

Diluted

earnings per

share from

continuing

operations

GAAP Basis - Continuing Operations

$570.3

58.2%

37.4%

7.9%

12.8%

$45.1

$3.4

7.5%

$0.96

Adjustments

Restructuring and optimization charges (A)

—

0.3

(1.6)

—

1.9

10.9

1.9

0.20

Acquisition, integration and divestiture related items (B)

—

—

(1.7)

—

1.7

9.9

1.8

0.18

Other items (C)

—

—

3.6

—

(3.6)

(19.3)

(4.0)

(0.35)

ERP implementation

—

—

(0.7)

—

0.7

4.0

0.7

0.08

MDR

—

—

—

(0.1)

0.1

0.3

—

0.01

Intangible amortization expense

—

3.2

(2.8)

—

6.0

34.1

4.6

0.68

Adjustments total

—

3.5

(3.2)

(0.1)

6.8

39.9

5.0

0.80

Adjusted basis

$570.3

61.7%

34.2%

7.8%

19.6%

$85.0

$8.4

9.9%

$1.76

Three Months Ended June 29, 2025

Revenue

Gross

margin

SG&A (1)

R&D (1)

Operating

margin (2)

Income before

income taxes

Income tax

expense

Effective income

tax

rate

Diluted

earnings per

share from

continuing

operations

GAAP Basis - Continuing Operations

$442.5

60.1%

31.1%

6.0%

20.6%

$70.7

$2.5

3.5%

$1.54

Adjustments

Restructuring and optimization charges (A)

—

1.4

—

—

1.7

7.4

1.2

0.14

Impairment charges

—

—

—

—

1.8

8.1

1.8

0.14

Acquisition, integration and divestiture related items (B)

—

—

6.4

—

(6.4)

(27.9)

2.1

(0.68)

Separation costs

—

—

—

—

0.3

1.3

—

0.03

Other items (C)

—

—

—

—

0.1

—

—

ERP implementation

—

—

(0.9)

—

0.9

3.8

0.5

0.07

MDR

—

—

—

(0.2)

0.2

0.9

—

0.02

Intangible amortization expense

—

3.0

(2.7)

—

5.7

25.1

3.0

0.50

Tax adjustments

—

—

—

—

—

—

1.4

(0.03)

Adjustments total

—

4.4

2.8

(0.2)

4.2

18.8

10.0

0.19

Adjusted basis

$442.5

64.5%

33.9%

5.8%

24.8%

$89.5

$12.5

14.1%

$1.73

Six Months Ended June 30, 2026

Revenue

Gross

margin

SG&A (1)

R&D (1)

Operating

margin (2)

Income before

income taxes

Income tax

expense

Effective

income tax

rate

Diluted

earnings per

share from

continuing

operations

GAAP Basis - Continuing Operations

$1,118.6

57.1%

39.3%

8.0%

8.3%

$41.3

$4.4

10.6%

$0.84

Adjustments

Restructuring and optimization charges (A)

—

0.5

(1.5)

—

3.5

39.0

6.3

0.73

Acquisition, integration and divestiture related items (B)

—

0.7

(1.3)

—

1.9

22.9

5.0

0.41

Other items (C)

—

—

1.8

—

(1.8)

(19.2)

(4.0)

(0.35)

ERP implementation

—

—

(0.7)

—

0.7

7.9

1.3

0.15

MDR

—

—

—

(0.1)

0.1

0.7

—

0.02

Intangible amortization expense

—

3.2

(2.9)

—

6.1

67.9

9.2

1.34

Adjustments total

—

4.4

(4.6)

(0.1)

10.5

119.2

17.8

2.30

Adjusted basis

$1,118.6

61.5%

34.7%

7.9%

18.8%

$160.5

$22.2

13.8%

$3.14

Six Months Ended June 29, 2025

Revenue

Gross

margin

SG&A (1)

R&D (1)

Operating

margin (2)

Income before

income taxes

Income tax

expense

Effective

income tax

rate

Diluted

earnings per

share from

continuing

operations

GAAP Basis - Continuing Operations

$856.8

60.8%

33.9%

6.0%

19.5%

$129.4

$8.9

6.9%

$2.67

Adjustments

Restructuring and optimization charges (A)

—

1.3

—

—

1.6

13.5

2.3

0.25

Impairment charges

—

—

—

—

0.9

8.1

1.8

0.14

Acquisition, integration and divestiture related items (B)

—

—

5.4

—

(5.4)

(46.0)

2.9

(1.07)

Separation costs

—

—

—

—

0.2

1.3

—

0.03

Other items (C)

—

—

—

—

—

0.1

—

—

ERP implementation

—

—

(1.1)

—

1.1

9.7

1.5

0.18

MDR

—

—

—

(0.2)

0.2

1.6

—

0.03

Intangible amortization expense

—

3.1

(2.8)

—

5.9

50.7

6.1

0.99

Tax adjustments

—

—

—

—

—

—

2.1

(0.05)

Adjustments total

—

4.4

1.5

(0.2)

4.5

39.0

16.7

0.50

Adjusted basis

$856.8

65.2%

35.4%

5.8%

24.0%

$168.4

$25.6

15.2%

$3.17

Notes:

(1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of as reported and adjusted revenues.

(2) Operating margin defined as Income from continuing operations before interest and taxes as a percentage of as reported and adjusted revenues.

Totals may not sum due to rounding.

Tickmarks to Reconciliation Tables

(A) Restructuring and optimization charges – For the three months ended June 30, 2026, pre-tax restructuring charges were $0.2 million and restructuring related charges were $10.6 million. For the three months ended June 29, 2025, pre-tax restructuring charges were $1.3 million, restructuring related charges were $3.5 million, and product optimization charges were $2.6 million. For the six months ended June 30, 2026, pre-tax restructuring charges were $17.1 million and restructuring related charges were $21.9 million, partially offset by a benefit from product rationalization charges of $0.1 million. For the six months ended June 29, 2025, pre-tax restructuring charges were $2.7 million, restructuring related charges were $8.2 million, and product optimization charges were $2.6 million.

(B) Acquisition, integration and divestiture related items – For the three and six months ended June 30, 2026, these charges primarily related to the acquisition of the Vascular Intervention business of BIOTRONIK SE & Co. KG. For the three months ended June 30, 2026 these charges included acquisition and integration costs of $8.9 million. For the six months ended June 30, 2026 these charges included acquisition and integration costs of $16.7 million and inventory step up costs of $8.0 million. For the three and six months ended June 29, 2025, these charges primarily related to the acquisition the Vascular Intervention business of BIOTRONIK SE & Co. KG and changes in the estimated fair value of our contingent consideration liabilities. For the three months ended June 29, 2025 the charges included acquisition and integration costs of $15.8 million, which were offset by a benefit of $59.7 million related to non-designated foreign currency forward contracts. For the six months ended June 29, 2025 the charges included acquisition and integration costs of $22.1 million, which were offset by a benefit of $82.2 million related to non-designated foreign currency forward contracts.

(C) Other – For the three and six months ended June 30, 2026, other items included a benefit from a litigation settlement of $25.0 million partially offset by legal and advisory fees incurred in response to an activist investor campaign of $3.6 million, a loss on extinguishment of debt of $1.2 million, and charges incurred in connection with the credit agreement refinancing of $1.0 million. For the three and six months ended June 29, 2025, other items included expenses associated with prior year tax matters.

ABOUT TELEFLEX INCORPORATED

As a global provider of medical technologies, Teleflex is driven by our purpose to improve the health and quality of people’s lives. Through our vision to become the most trusted partner in healthcare, we offer a diverse portfolio with solutions in the therapy areas of anesthesia, emergency medicine, interventional cardiology and radiology, surgical, vascular access, and urology. We believe that the potential of great people, purpose driven innovation, and world-class products can shape the future direction of healthcare.

Teleflex is the home of Arrow™, Barrigel™, Deknatel™, LMA™, Pilling™, QuikClot™ Rüsch™, UroLift™ and Weck™ – trusted brands united by a common sense of purpose.

At Teleflex, we are empowering the future of healthcare. For more information, please visit teleflex.com.

CAUTION CONCERNING FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements, including, but not limited to, the implementation and execution of our share repurchase program, including our planned accelerated share repurchase; our intended use of proceeds from the OEM divestiture; our expectations with respect to our financial profile in 2027 and beyond; forecasted 2026 GAAP, pro forma adjusted and pro forma adjusted constant currency revenue and revenue growth and GAAP and adjusted diluted earnings per share; and our estimates regarding the projected impact of foreign currency exchange rate fluctuations on our 2026 financial results. Actual results could differ materially from those in the forward-looking statements due to, among other things, unanticipated difficulties and expenditures in connection with integration programs; the possibility that the Strategic Divestitures do not close; unanticipated costs and length of time required to comply with legal requirements and regulatory approvals applicable to the Strategic Divestitures; customer and shareholder reaction to the Strategic Divestitures; disruption from the Strategic Divestitures that may make it more difficult to maintain business and operational relationships; significant transaction costs; delays or cancellations in shipments; demand for and market acceptance of new and existing products; our inability to provide products to our customers, which may be due to, among other things, events that impact key distributors, suppliers and third-party vendors that sterilize our products; risks relating to the activities of activist stockholders; our inability to effectively execute our restructuring plans and programs; our inability to realize anticipated savings from restructuring plans and programs; the impact of healthcare reform legislation and proposals to amend, replace or repeal the legislation; changes in Medicare, Medicaid and third party coverage and reimbursements; the impact of enacted tax legislation and related regulations; competitive market conditions and resulting effects on revenues and pricing; increases in raw material costs that cannot be recovered in product pricing; global economic factors, including currency exchange rates, interest rates, trade disputes, tariffs, sovereign debt issues and international conflicts and hostilities, such as the ongoing conflicts in the Ukraine and the Middle East; public health epidemics; difficulties in entering new markets; general economic conditions; and other factors described or incorporated in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K. We expressly disclaim any obligation to update forward-looking statements, except as otherwise specifically stated by us or as required by law or regulation.

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended

Six Months Ended

June 30, 2026

June 29, 2025

June 30, 2026

June 29, 2025

(Dollars and shares in thousands, except per share)

Net revenues

$

570,332

$

442,525

$

1,118,594

$

856,783

Cost of goods sold

238,625

176,695

479,461

335,522

Gross profit

331,707

265,830

639,133

521,261

Selling, general and administrative expenses

213,515

137,504

439,527

290,419

Research and development expenses

45,122

26,488

89,508

51,783

Restructuring charges, separation costs and impairment charges

246

10,700

17,091

12,122

Income from continuing operations before interest, taxes and loss on extinguishment of debt

72,824

91,138

93,007

166,937

Interest expense

27,953

21,703

53,671

40,240

Interest income

(1,416

)

(1,229

)

(3,124

)

(2,717

)

Loss on extinguishment of debt

1,150

—

1,150

—

Income from continuing operations before taxes

45,137

70,664

41,310

129,414

Taxes on income from continuing operations

3,375

2,489

4,386

8,906

Income from continuing operations

41,762

68,175

36,924

120,508

Operating income from discontinued operations

60,254

64,577

57,611

114,637

Taxes on operating income from discontinued operations

2,323

10,172

2,996

17,563

Income from discontinued operations

57,931

54,405

54,615

97,074

Net income

$

99,693

$

122,580

$

91,539

$

217,582

Earnings per share:

Basic:

Income from continuing operations

$

0.96

$

1.54

$

0.84

$

2.68

Income from discontinued operations

1.33

1.23

1.24

2.15

Net income

$

2.29

$

2.77

$

2.08

$

4.83

Diluted:

Income from continuing operations

$

0.96

$

1.54

$

0.84

$

2.67

Income from discontinued operations

1.32

1.23

1.24

2.15

Net income

$

2.28

$

2.77

$

2.08

$

4.82

Weighted average common shares outstanding

Basic

43,562

44,269

43,908

45,017

Diluted

43,660

44,332

44,014

45,120

  TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

June 30, 2026

December 31, 2025

(Dollars in thousands)

ASSETS

Current assets

Cash and cash equivalents

$

300,159

$

378,564

Accounts receivable, net

364,609

345,583

Inventories

351,912

404,395

Prepaid expenses and other current assets

148,222

150,678

Prepaid taxes

36,458

19,566

Current assets of discontinued operations

674,516

639,552

Total current assets

1,875,876

1,938,338

Property, plant and equipment, net

475,637

498,281

Operating lease assets

77,158

91,817

Goodwill

2,292,435

2,305,050

Intangible assets, net

1,448,669

1,524,150

Deferred tax assets

12,642

12,593

Other assets

120,310

112,984

Non-current assets of discontinued operations

484,051

464,026

Total assets

6,786,778

6,947,239

LIABILITIES AND EQUITY

Current liabilities

Current borrowings

$

87,500

$

100,000

Accounts payable

143,292

130,201

Accrued expenses

134,170

117,350

Payroll and benefit-related liabilities

110,214

124,769

Accrued interest

3,558

5,404

Income taxes payable

17,787

18,787

Other current liabilities

88,364

137,195

Current liabilities of discontinued operations

135,494

128,320

Total current liabilities

720,379

762,026

Long-term borrowings

2,720,509

2,541,449

Deferred tax liabilities

146,141

183,749

Noncurrent liability for uncertain tax positions

3,802

3,536

Noncurrent operating lease liabilities

64,540

84,210

Other liabilities

174,899

194,532

Non-current liabilities of discontinued operations

51,974

52,969

Total liabilities

3,882,244

3,822,471

Commitments and contingencies

Total shareholders' equity

2,904,534

3,124,768

Total liabilities and shareholders' equity

$

6,786,778

$

6,947,239

  TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Six Months Ended

June 30, 2026

June 29, 2025

(Dollars in thousands)

Cash flows from operating activities of continuing operations:

Net income

$

91,539

$

217,582

Adjustments to reconcile net income to net cash provided by operating activities:

(Income) loss from discontinued operations

(54,615

)

(97,074

)

Depreciation expense

35,620

24,840

Intangible asset amortization expense

67,943

50,668

Deferred financing costs and debt discount amortization expense

2,976

1,705

Loss on extinguishment of debt

1,150

—

Changes in contingent consideration

(2,699

)

14,080

Stock-based compensation

12,182

12,287

Asset impairment charge

—

8,117

Gain on non-designated foreign currency forward contracts

—

(83,532

)

Deferred income taxes, net

(16,090

)

(1,935

)

Interest benefit on swaps designated as net investment hedges

(15,422

)

(7,484

)

Other

3,140

(6,388

)

Changes in assets and liabilities, net of effects of acquisitions and disposals:

Accounts receivable

(23,639

)

(26,559

)

Inventories

44,252

(13,949

)

Prepaid expenses and other assets

12,888

(3,734

)

Accounts payable, accrued expenses and other liabilities

(6,053

)

(27,643

)

Income taxes receivable and payable, net

(14,613

)

(70,277

)

Net cash provided by (used in) operating activities from continuing operations

138,559

(9,296

)

Cash flows from investing activities of continuing operations:

Expenditures for property, plant and equipment

(32,825

)

(51,921

)

Payments for businesses and intangibles acquired, net of cash acquired

—

(6,700

)

Insurance settlement proceeds

—

9,447

Net payments on swaps designated as net investment hedges

(39,542

)

7,612

Purchase of investments

(9,000

)

(5,000

)

Net cash used in investing activities from continuing operations

(81,367

)

(46,562

)

Cash flows from financing activities of continuing operations:

Proceeds from new borrowings

2,350,000

300,000

Reduction in borrowings

(2,175,000

)

(55,375

)

Repurchase of common stock

(250,000

)

(300,000

)

Net (payments) proceeds from share based compensation plans and related tax impacts

(5,265

)

7,207

Share repurchase excise tax

(2,802

)

(1,894

)

Payments for contingent consideration

(107

)

(112

)

Dividends paid

(29,830

)

(30,218

)

Debt issuance and amendment fees

(13,981

)

(2,800

)

Net cash used in financing activities from continuing operations

(126,985

)

(83,192

)

Cash flows from discontinued operations:

Net cash provided by operating activities

4,796

90,131

Net cash used in investing activities

(18,144

)

(12,718

)

Net cash (used in) provided by discontinued operations

(13,348

)

77,413

Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents

(6,420

)

17,908

Net decrease in cash, cash equivalents and restricted cash equivalents

(89,561

)

(43,729

)

Cash, cash equivalents and restricted cash equivalents at the beginning of the period

453,848

327,650

Less: Cash, cash equivalents and restricted cash of discontinued operations

(47,368

)

(27,365

)

Cash, cash equivalents and restricted cash equivalents at the end of the period

$

316,919

$

256,556

WAYNE, Pa.--(BUSINESS WIRE)--Teleflex Incorporated (NYSE: TFX), a leading global provider of medical technologies, today announced the beginning of enrollment in the BIOMAG™‑III Study (NCT07258290), a landmark global study evaluating the Freesolve™ Resorbable Magnesium Scaffold (RMS).

Dr. Itsik Ben-Dor, MedStar Health in Washington, D.C., is the first implanter in the United States (U.S.) in the IDE trial of Freesolve™ RMS. Designed as a pivotal trial to support future regulatory applications, the BIOMAG™‑III Study represents the most comprehensive planned clinical evaluation of Freesolve™ RMS to date.

Chairman of the steering committee of the BIOMAG™-III Study, Dr. Ron Waksmanǂ, Associate Director of Cardiology at MedStar Washington Hospital Center, stated: “I’m proud that the very first patient in the BIOMAG™-III IDE trial has been enrolled at MedStar Health. Contributing to this important international study is the first step towards potentially changing how we treat narrowed arteries, a very common condition we see in our clinics every day. Researching innovative therapies like Freesolve™ RMS is critical to advancing care for our patients.”

The BIOMAG™-III Study is a randomized controlled trial (RCT). The study will enroll 1,859 patients and compare Freesolve™ RMS to Xience™ Drug‑Eluting Stent (DES) with respect to Target Lesion Failure (TLF) ratea at 12 months. The study will include scaffold lengths up to 40mm. The BIOMAG™-III Study will be conducted at up to 120 sites worldwide, including up to 60 sites in the U.S., underlining Teleflex’s strong global commitment to advancing resorbable scaffold technology.

Furthermore, enrollment recently completed ahead of schedule for the BIOMAG™-II Study (NCT05540223). This study enrolled 1,861 patients across 20 countries in Europe and Asia Pacific. The BIOMAG™-II Study is a prospective, international, multi-center, RCT comparing Freesolve™ RMS with Xience™ DES with respect to TLF ratea at 12 months. Completion of enrollment marks a major milestone for the first large‑scale, head‑to‑head RCT evaluating Freesolve™ RMS against DES.

Additionally, Teleflex recently announced positive long-term data from the BIOMAG™-I First-In-Human (FIH) Study (NCT04157153), demonstrating 3.5% TLFb at four years and no new clinical events between two and four years for Freesolve™ RMS1.

“The BIOMAG™‑III Study represents an important milestone in the evolution of resorbable technologies,” said Dr. David E. Kandzariǂ, U.S. National Principal Investigator for the BIOMAG™-III Study, Chief, Piedmont Heart Institute, and Chief Scientific Officer, Piedmont Healthcare. “Freesolve™ RMS technology has shown positive outcomes in the BIOMAG™-I FIH trial, with a plateauing of clinical events after resorption. This has long been the vision of resorbable scaffolds.”

Freesolve™ RMS is engineered to resorb within 12 months2, potentially reducing long‑term events associated with permanent metallic implants. The BIOMAG™‑III Study aims to generate pivotal evidence required to bring this technology to physicians and patients.

“The BIOMAG™‑III Study is a pivotal trial designed not only to meet rigorous regulatory standards, but also to demonstrate the long‑term safety and efficacy of a fully resorbable magnesium scaffold for patients, physicians, and healthcare systems,” says Prof. Dr. Georg Nollert, Vice President Medical Affairs at Teleflex. “We believe Freesolve™ RMS has the potential to reshape the coronary intervention landscape, and the BIOMAG™‑III Study could be the catalyst to drive that.”

About Teleflex Incorporated
As a global provider of medical technologies, Teleflex is driven by our purpose to improve the health and quality of people’s lives. Through our vision to become the most trusted partner in the world of healthcare, we offer a diverse portfolio with solutions in the therapy areas of anesthesia, emergency medicine, interventional cardiology and radiology, surgical, vascular access, and urology. We believe that the potential of great people, purpose driven innovation, and world-class products can shape the future direction of healthcare.

Teleflex is the home of Arrow™, Barrigel™, Deknatel™, LMA™, Pilling™, QuikClot™, Rüsch™, UroLift™ and Weck™ – trusted brands united by a common sense of purpose.

At Teleflex, we are empowering the future of healthcare. For more information, please visit teleflex.com.

Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Any forward-looking statements contained herein are based on our management's current beliefs and expectations, but are subject to a number of risks, uncertainties and changes in circumstances, which may cause actual results or company actions to differ materially from what is expressed or implied by these statements. These risks and uncertainties are identified and described in more detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

Teleflex, the Teleflex logo, Arrow, Barrigel, BIOMAG, Deknatel, Freesolve, LMA, Pilling, QuikClot, Rüsch, UroLift and Weck are trademarks or registered trademarks of Teleflex Incorporated or its affiliates in the U.S. and/or other countries. All other trademarks marked with a ™ are the property of their respective owners and are solely used for identification purposes and do not imply any affiliation, endorsement, or ownership by Teleflex Incorporated or its affiliates. Information in this material is not a substitute for the product Instructions for Use. Not all products may be available in all countries.
© 2026 Teleflex Incorporated. All rights reserved. MC-012134 Rev 0.

References:

Torzewski, J. Lessons from the long-term DES data: how they can inform today's practice - BIOMAG-I: 4-Year Clinical Outcomes of the Resorbable Magnesium Scaffold-DREAMS 3G. pcronline.com Published May 20, 2026. Accessed June 3, 2026. https://www.pcronline.com/Cases-resources-images/Resources/Course-videos-slides/2026/EuroPCR/Lessons-from-the-long-term-DES-data-how-they-can-inform-today-s-practice?auth=true. Research sponsored by Teleflex. Seguchi, M., Aytekin, A., Xheoa, E. et al. Vascular response following implantation of the third-generation drug-eluting resorbable coronary magnesium scaffold: an intravascular imaging analysis of the BIOMAG-I first-in-human study. EuroIntervention. 2024; 20(18): e1173-e1183. doi: 10.4244/EIJ-D-24-00055. Scaffold 99.0% resorbed at 12 months (markers are not resorbable). Research sponsored by Teleflex. Disclaimers:

a For BIOMAG™-III and BIOMAG™-II Studies, TLF is a composite of Cardiac Death, Target Vessel Q-wave or non-Q wave Myocardial Infarction, or clinically driven Target Lesion Revascularization (TLR).
b For BIOMAG™-I Study, TLF is a composite of Target-Vessel Myocardial Infarction (TV-MI), clinically driven Target Lesion Revascularization (CD-TLR) and Cardiac Death. BIOMAG™-I FIH Study data is based on Kaplan-Meier failure estimate analysis.

ǂDrs. Waksman and Kandzari are paid consultants of Teleflex.

CAUTION—Investigational device. Limited by the United States law to investigational use.
Freesolve™ RMS is clinically often referred to as DREAMS 3G RMS.
Freesolve™ RMS is not approved for sale in the United States and is commercially available in CE-mark accepting countries only. Indications for Use may vary by geographic location.