Teleflex (TFX) Q4 FY2021 earnings: revenue $762 million, up 7.1% on the year

Teleflex Inc. (TFX) reported revenue of $762 million for Q4 FY2021, the quarter ended 31 December 2021, up 7.1% on the same quarter a year earlier. Net income was $128 million, up 68.2% on the year, and diluted earnings per share $2.69. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2022.

Revenue

$762 million

+7.1% on the year · +8.8% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

20.4%

13.4% a year earlier

Q1 FY2020Q4 FY2021

Net income

$128 million

+68.2% on the year · -35.7% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$2.69

+67.1% on the year · -36.0% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	762	700	711	+8.8%	+7.1%
Cost of revenue	342	n/a	n/a
Gross profit	420	n/a	n/a
Gross margin	55.1%	n/a	n/a
Research and development	35.8	n/a	n/a
Selling, general and administrative	228	n/a	n/a
Operating income	155	241	95.1	-35.7%	+63.1%
Operating margin	20.4%	34.4%	13.4%
Interest expense	12.0	n/a	n/a
Pre-tax income	143	n/a	n/a
Income tax	15.8	n/a	n/a
Effective tax rate	11.0%	n/a	n/a
Net income	128	199	76.1	-35.7%	+68.2%
Net margin	16.8%	n/a	n/a
Diluted EPS	$2.69	$4.20	$1.61	-36.0%	+67.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Capital expenditure	19.5	n/a	n/a
Cash from investing	-11.0	n/a	n/a
Cash from financing	-215	n/a	n/a
Depreciation and amortisation	58.7	58.8	57.3	-0.2%	+2.5%
Share-based compensation	5.9	n/a	n/a
Dividends paid	15.9	n/a	n/a
Diluted shares, weighted	47m	47m	n/a	-0.1%
Shares outstanding at period end	47m	47m	47m	+0.1%	+0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	3,755	3,658	3,336	+2.6%	+12.5%
Debt	1,850	2,050	2,478	-9.7%	-25.4%
Operating lease liabilities	116	n/a	n/a
Other liabilities	1,151	n/a	n/a
Total liabilities and equity	6,872	n/a	n/a
Fixed assets	444	n/a	n/a
Goodwill	2,504	n/a	n/a
Intangible assets	2,289	n/a	n/a
Cash and equivalents	445	481	376	-7.5%	+18.4%
Receivables	384	n/a	n/a
Inventory	478	n/a	n/a
Other assets	328	n/a	n/a
Total assets	6,872	n/a	n/a

Questions

What was Teleflex's revenue in Q4 FY2021?

Teleflex (TFX) reported revenue of $762 million for Q4 FY2021, the quarter ended 31 December 2021, up 7.1% on the same quarter a year earlier.

How much did Teleflex earn in Q4 FY2021?

Net income for Q4 FY2021 was $128 million, up 68.2% on the year, and diluted earnings per share $2.69.

When did Teleflex report Q4 FY2021 results?

Teleflex filed its 10-K for the year that ended with the quarter on 1 March 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	762	642	705	687	758	711	743	746	774	413	419	426	442	414	443	567	569	548	570	568
Cost of revenue	342	295	316	313	336	320	335	330	342	322	333	334	355	159	177	275	262	241	239	199
Gross profit	420	346	389	374	422	391	408	416	431	257	252	260	269	255	266	292	307	307	332	369
Gross margin	55%	54%	55%	54%	56%	55%	55%	56%	56%	62%	60%	61%	61%	62%	60%	52%	54%	56%	58%	65%
R&D	35.8	36.4	36.9	37.8	42.8	41.5	39.4	37.6	35.9	37.3	41.1	38.7	44.6	25.3	26.5	44.3	48.7	44.4	45.1	43.0
SG&A	228	204	217	210	233	233	223	213	261	243	251	247	255	153	138	207	222	226	214	221
Operating income	155	104	135	132	129	115	144	165	82.5	-71.8	51.1	72.0	52.4	75.8	91.1	-62.4	13.9	20.2	72.8	105
Operating margin	20%	16%	19%	19%	17%	16%	19%	22%	11%	-17%	12%	17%	12%	18%	21%	-11%	2%	4%	13%	19%
Interest expense	12.0	10.4	11.4	13.4	19.1	18.3	17.8	23.2	25.8	22.7	21.2	21.1	18.6	18.5	21.7	31.8	28.1	25.7	28.0	21.2
Pre-tax income	143	93.3	124	119	109	97.5	127	150	60.0	-25.8	97.5	131	-127	58.8	70.7	-92.4	-12.4	-3.8	45.1	83.1
Tax rate	11%	17%	15%	15%	29%	21%	12%	8%	48%	n/a	18%	15%	n/a	11%	4%	n/a	n/a	n/a	7%	35%
Net income	128	77.1	106	102	78.6	76.7	111	137	31.1	15.3	80.0	111	-137	95.0	123	-409	-714	-8.2	99.7	927
Net margin	17%	12%	15%	15%	10%	11%	15%	18%	4%	4%	19%	26%	-31%	23%	28%	-72%	-126%	-1%	17%	163%
Diluted EPS	$2.69	$1.63	$2.23	$2.16	$1.66	$1.62	$2.35	$2.90	$0.66	$0.32	$1.69	$2.36	-$2.93	$2.07	$2.77	-$9.24	-$16.15	-$0.18	$2.28	$22.28
Capital expenditure	19.5	13.1	19.4	20.2	26.5	21.8	17.5	24.4	27.7	38.4	34.8	21.2	32.0	24.1	34.6	29.9	n/a	18.8	14.0	21.6
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	200	0.0	300	0.0	0.0	0.0	0.0	250	305
Dividends paid	15.9	15.9	15.9	15.9	15.9	16.0	16.0	16.0	16.0	16.0	16.0	15.8	15.7	15.2	15.0	15.0	15.0	15.1	14.8	13.9
Shares outstanding	47m	47m	47m	47m	47m	47m	47m	47m	47m	47m	47m	46m	44m	44m	44m	44m	44m	44m	42m	40m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 1 March 2022: the filing.