Teleflex Raises 2026 Adjusted EPS Outlook After Third Quarter

The Tip Desk · November 5, 2026 · 4 min read

Adjusted diluted earnings from continuing operations reached $2.63 a share as the company lifted its full-year range to $7.50 to $7.75.

Teleflex Incorporated (TFX) raised its full-year 2026 adjusted diluted earnings outlook from continuing operations to a range of $7.50 to $7.75 after third-quarter results that the company said included margin expansion and earnings growth even excluding IEEPA tariff refunds.

Adjusted diluted EPS from continuing operations was $2.63 a share in the quarter ended September 30, 2026, compared with $1.89 a year earlier. GAAP diluted EPS from continuing operations was $1.30 a share, versus a loss of $1.32 a share in the year-ago period.

Revenue from continuing operations was $567.8 million, up 0.2% from the year-earlier period and up 3.0% on a pro forma adjusted constant currency basis. That constant-currency pace slowed from the second quarter, when continuing-operations revenue of $570.3 million was up 4.7% on the same measure.

President and Chief Executive Officer Jason Weidman said Vascular and Surgical continued to deliver solid mid-single-digit growth and that Interventional improved, returning to modest growth. The company said it made notable progress on the Interventional integration and added Jason Fontana as President and General Manager of that business.

In the third quarter Teleflex changed its reportable segments from a geographic presentation to three global product-based units—Vascular, Interventional and Surgical—and restated all prior comparative periods. Vascular revenue was $243.5 million, up 4.7% reported and 4.6% on a pro forma adjusted constant currency basis. Interventional revenue was $210.3 million, down 2.6% reported and 0.2% on a pro forma adjusted constant currency basis. Surgical revenue was $114.0 million, up 4.2% reported and 5.1% on a pro forma adjusted constant currency basis.

Following the U.S. Supreme Court’s February 20, 2026 decision invalidating IEEPA tariffs, Teleflex received approval and payment for substantially all submitted refund requests in the third quarter, with total refund payments of $39.2 million. Of that total, the company recognized a benefit of $25.3 million within continuing operations, which reduced cost of sales. The benefit includes $16.5 million related to tariffs recognized in 2026, which is included in the company’s non-GAAP results for the quarter, and $8.8 million related to tariffs incurred in 2025, which the company excluded from non-GAAP results. The company said it anticipates submitting additional refund requests in the fourth quarter.

The company completed the sale of its OEM business on August 3, 2026, for $1.5 billion in cash and $1.25 billion in after-tax proceeds. In August it applied a portion of the net cash proceeds to repay its $700 million Term Loan A-2 and part of revolving credit facility borrowings. From July 1, 2026 through the date of the release, Teleflex repurchased $350 million of common stock through an accelerated share repurchase and open-market purchases, consisting of 2.7 million shares at an average price of $128.96 a share. As of November 5, 2026, $400 million remained available under the $1 billion authorization.

The pending sale of Acute Care and Interventional Urology to Intersurgical Ltd. remains subject to regulatory review. The company said it continues to work toward closing by year-end, subject to completion of the regulatory process, and that closing may extend into 2027.

Full-year 2026 GAAP revenue growth guidance from continuing operations was reduced to 13.2% to 14.2%, reflecting an estimated 0.5% positive foreign-exchange impact versus about 0.7% previously. Pro forma adjusted constant currency revenue growth guidance was maintained at 3.5% to 4.5%. GAAP diluted EPS guidance from continuing operations was increased to $2.84 to $3.09. The adjusted EPS range now assumes about 20.0% adjusted operating margin for 2026, inclusive of the $16.5 million of IEEPA tariff refunds recognized in the third quarter, and excludes expected benefits from transition services and manufacturing services agreements that come into effect upon closing the Acute Care and Interventional Urology sale.

Weidman said the company expects its transformation, including completion of the Strategic Divestitures and the Vascular Intervention integration, to deliver a meaningful step-up in adjusted earnings per share in 2027. Freesolve, the company’s resorbable magnesium scaffold, received FDA Breakthrough Device Designation for PCI, and Teleflex said it sees EZPLAZ as a potential long-term U.S. market opportunity of at least $200 million.