Teleflex's stock experienced a significant pre-market plunge of 11.52% on Thursday following the release of its quarterly financial results.
The sharp decline comes after the company reported quarterly earnings of $1.93 per share, which missed analyst consensus estimates of $3.73 by 48.31 percent. This represents a 50.39 percent decrease compared to earnings from the same period last year. Furthermore, the company reported quarterly sales of $568.984 million, falling short of the $919.302 million estimate by 38.11 percent, though this still marked a 28.73 percent increase year-over-year.
In conjunction with the earnings release, Teleflex announced it has commenced a multi-year restructuring plan intended to right-size and reduce its cost structure, related to announced strategic divestitures. The company also provided its full-year outlook, including expectations for two strategic divestitures to close in the second half of 2026.
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