$TFX

TELEFLEX INC

CIK:0000096943|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 29, 2025	Jun. 30, 2026	Jun. 29, 2025
Income Statement [Abstract]
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	0	1,150	0
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
Basic:
Income from continuing operations (in dollars per share)	$ 0.96	$ 1.54	$ 0.84	$ 2.68
Income from discontinued operations (in dollars per share)	1.33	1.23	1.24	2.15
Net income (in dollars per share)	2.29	2.77	2.08	4.83
Diluted:
Income from continuing operations (in dollars per share)	0.96	1.54	0.84	2.67
Income from discontinued operations(in dollars per share)	1.32	1.23	1.24	2.15
Net income (in dollars per share)	$ 2.28	$ 2.77	$ 2.08	$ 4.82
Weighted average common shares outstanding
Basic (in shares)	43,562	44,269	43,908	45,017
Diluted (in shares)	43,660	44,332	44,014	45,120

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 29, 2025
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	0
Changes in contingent consideration	(2,699)	14,080
Stock-based compensation	12,182	12,287
Asset impairment charge	0	8,117
Gain on non-designated foreign currency forward contracts	0	(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	0	(6,700)
Insurance settlement proceeds	0	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

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
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
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