Teleflex Incorporated Q1 FY2026 earnings call

• Teleflex completed acquisition of Biotronics' vascular intervention business in July 2025 and announced divestitures of acute care, interventional urology, and OEM businesses. • In first quarter, met or exceeded internal expectations for revenues, margins, and adjusted EPS. • Launched multiyear restructuring plan to achieve ~$50 million in annual pre-tax cost savings. • Announced governance changes, including nomination of new board member and intent to establish Growth and Operating Committee. • Welcomed Jason Weidman as next president and CEO effective June 8.

Vascular revenue increased 4.8% year-over-year to $236.8 million. Interventional revenue was $204.7 million, an increase of 3%. Surgical revenue was $106.8 million, an increase of 9.9%.

• 2026 pro forma adjusted constant currency revenue growth expected in range of 4.5% to 5.5%. • Adjusted earnings per share expected in range of $6.25 to $6.55. • Expect to begin opportunistic share repurchases in open market during second quarter. • Net interest expense expected to approximate $105 million for full year 2026. • Tax rate expected to be approximately 13.5% in 2026.

• Two third-party product suppliers initiated recall for certain components in vascular and interventional kits. • Integration and restructuring activities caused disruption in interventional sales. • Potential impact of cost inflation in manufacturing and freight.

Q: About second quarter revenue growth expectations.

A: Not guiding quarterly revenue, but expect accelerated growth in second half of 2026, with recalls and instrument order timing being bumps in the road.

Q: Interventional sales integration disruption cause.

A: Primarily restructuring of territories when integrating two sales forces.

Q: EPS guidance factoring in new costs.

A: Early in year, maintaining guidance now, will update as second quarter progresses.

Q: Segments driving growth in 4.5% to 5.5% guidance.

A: Vascular, CVCs, hemostatics, surgical hemlocks and instrument orders, interventional complex catheters and DCBs are driving, with interventional expected to be larger grower long term.

Q: Impact of cost inflation on margins.

A: Seen increase in L&D costs, but have continuing improvement programs to offset.

Q: Role of new board committee.

A: Committee will focus on operations and growth plan execution, members to be determined next week.

Q: Biomag trials enrollment and readout.

A: Biomag 2 in Europe ahead of schedule, approaching end of enrollment, data expected to read out in 2027; Biomag 3 to initiate in 2026, data expected to read out around 2030.

Q: Why Jason Weidman best fit.

A: Aligned with culture, proven growth leader, able to manage complexity, global perspective.

Q: Investor day and 2027 outlook.

A: No current investor day plan, normalized operating margin expected mid-20s once stranded costs accounted for, but no 2027 top line guidance yet.

Q: Interest in Teleflex and board members.

A: Don't comment on market rumors, referred to March 27th press release for board comments.

Q: Timing of share repurchases.

A: Starting open market purchases in Q2, likely continuing into 2027 given size of buyback.

Q: Stranded costs cadence.

A: Linear run rate for stranded costs, expected to be an issue until fourth quarter when TSAs and MSAs come into play.

Q: Interventional growth below target.

A: Due to Salesforce integration disruption and restructuring actions, expected to recover in back half of year.

Q: Surgical upside growth and new products.

A: Surgical did well, instrument orders timing issue, bariatric stapler performed well on lower base.

Q: Shareholder value creation.

A: Board open to considering bona fide acquisition proposals and all long-term value creation avenues.

Q: Tariffs and guidance.

A: Refunds on tariffs would be upside for guidance, currently have $33 million of tariffs in full year guidance with potential upside.