Teleflex falls as Q3 revenue misses estimates

Teleflex Incorporated

31/10/2024 13:36

** Shares of surgical equipment maker Teleflex  TFX.N  fall
14% to $202.17
    ** Co reports Q3 rev below analysts' estimates, hurt by
weakness in its OEM unit, which designs and manufactures
instruments for other medical device makers 
    ** TFX posts Q3 rev of $764.4 million, below analysts'
estimate of $769.6 million, according to data compiled by LSEG
     ** CEO Liam Kelly said co saw some "unexpected softness" in
OEM revenues
    **  Sales at its OEM unit came in at $82.6 million
    ** Co reports adj profit of $3.49 per share in the quarter
ended Sept. 30, beating estimates of $3.39 per share 
    ** Up to last close, stock down ~6% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))