Teleflex (TFX) Q4 FY2023 earnings: revenue $774 million, up 2.1% on the year

Teleflex Inc. (TFX) reported revenue of $774 million for Q4 FY2023, the quarter ended 31 December 2023, up 2.1% on the same quarter a year earlier. Net income was $31 million, down 60.4% on the year, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.

Revenue$774 millionup 2.1%

Net income$31 milliondown 60.4%

Diluted EPS$0.66

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	774	746	n/a	n/a
Cost of revenue	342	330	n/a	n/a
Gross profit	431	416	n/a	n/a
Gross margin	55.7%	55.8%	n/a
Research and development	35.9	37.6	n/a	n/a
Selling, general and administrative	261	213	n/a	n/a
Operating income	82.5	165	n/a	n/a
Operating margin	10.7%	22.1%	n/a
Interest expense	25.8	23.2	n/a	n/a
Pre-tax income	60.0	150	n/a	n/a
Income tax	28.8	11.9	n/a	n/a
Effective tax rate	48.0%	8.0%	n/a
Net income	31.1	137	n/a	n/a
Net margin	4.0%	18.4%	n/a
Diluted EPS	$0.66	$2.90	n/a	n/a

$ 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 and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Capital expenditure	27.7	24.4	n/a	n/a
Cash from investing	n/a	-28.5	n/a	n/a
Cash from financing	-238	462	n/a	n/a
Depreciation and amortisation	64.2	57.6	n/a	n/a
Share-based compensation	9.3	8.1	n/a	n/a
Dividends paid	16.0	16.0	n/a	n/a
Dividend per share	n/a	$0.34	n/a	n/a
Diluted shares, weighted	47m	47m	n/a	n/a
Shares outstanding at period end	47m	47m	n/a	n/a

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

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	4,441	4,314	n/a	n/a
Debt	1,815	2,038	n/a	n/a
Operating lease liabilities	111	112	n/a	n/a
Other liabilities	1,165	1,030	n/a	n/a
Total liabilities and equity	7,533	7,494	n/a	n/a
Fixed assets	480	464	n/a	n/a
Goodwill	2,914	2,528	n/a	n/a
Intangible assets	2,502	2,181	n/a	n/a
Cash and equivalents	223	881	n/a	n/a
Receivables	443	425	n/a	n/a
Inventory	626	625	n/a	n/a
Other assets	344	389	n/a	n/a
Total assets	7,533	7,494	n/a	n/a

Questions

What was Teleflex's revenue in Q4 FY2023?

Teleflex (TFX) reported revenue of $774 million for Q4 FY2023, the quarter ended 31 December 2023, up 2.1% on the same quarter a year earlier.

How much did Teleflex earn in Q4 FY2023?

Net income for Q4 FY2023 was $31 million, down 60.4% on the year, and diluted earnings per share $0.66.

When did Teleflex report Q4 FY2023 results?

Teleflex filed its 10-K for the year that ended with the quarter on 23 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	746	774	413	419	426	442	414	443	567	569	548	570
Cost of revenue	330	342	322	333	334	355	159	177	461	n/a	241	239
Gross profit	416	431	257	252	260	269	255	266	292	307	307	332
Gross margin	56%	56%	62%	60%	61%	61%	62%	60%	52%	54%	56%	58%
R&D	37.6	35.9	37.3	41.1	38.7	44.6	25.3	26.5	57.2	n/a	44.4	45.1
SG&A	213	261	243	251	247	255	153	138	282	n/a	226	214
Operating income	165	82.5	-71.8	51.1	72.0	52.4	75.8	91.1	-62.4	13.9	20.2	72.8
Operating margin	22%	11%	-17%	12%	17%	12%	18%	21%	-11%	2%	4%	13%
Interest expense	23.2	25.8	22.7	21.2	21.1	18.6	18.5	21.7	31.8	28.1	25.7	28.0
Pre-tax income	150	60.0	-25.8	97.5	131	-127	58.8	70.7	-439	n/a	-3.8	45.1
Tax rate	8%	48%	n/a	18%	15%	n/a	11%	4%	n/a	n/a	n/a	7%
Net income	137	31.1	15.3	80.0	111	-137	95.0	123	-409	-714	-8.2	99.7
Net margin	18%	4%	4%	19%	26%	-31%	23%	28%	-72%	-126%	-1%	17%
Diluted EPS	$2.90	$0.66	$0.32	$1.69	$2.36	-$2.93	$2.07	$2.77	-$9.24	-$16.15	-$0.18	$2.28
Capital expenditure	24.4	27.7	38.4	34.8	21.2	32.0	24.1	34.6	29.9	n/a	18.8	14.0
Buybacks	n/a	n/a	0.0	0.0	200	0.0	300	0.0	0.0	0.0	0.0	250
Dividends paid	16.0	16.0	16.0	16.0	15.8	15.7	15.2	15.0	15.0	15.0	15.1	14.8
Shares outstanding	47m	47m	47m	47m	46m	44m	44m	44m	44m	44m	44m	42m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	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.

Source

10-K for the period ended 31 December 2023, filed 23 February 2024, accession 0000096943-24-000036: the filing on EDGAR. All of Teleflex Inc.'s filings: EDGAR company page.

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