Teleflex Incorporated (NYSE:TFX) Q3 2024 Results Conference Call October 31, 2024 8:00 AM ET

Company Participants

Lawrence Keusch - Vice President-Investor Relations & Strategy Development
Liam Kelly - Chairman, President & Chief Executive Officer
Thomas Powell - Executive Vice President & Chief Financial Officer

Conference Call Participants

Patrick Wood - Morgan Stanley
Matthew O'Brien - Piper Sandler
Jayson Bedford - Raymond James
Shagun Singh - RBC
Matt Taylor - Jefferies
Larry Biegelsen - Wells Fargo
Anthony Petrone - Mizuho Group
David Turkaly - Citizens JMP
Craig Bijou - Bank of America
Michael Polark - Wolfe Research
Mike Matson - Needham
Kristen Stewart - CL King

Operator

Good morning, ladies and gentlemen, and welcome to the Teleflex Third Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note that this conference call is being recorded, and will be available on the company's website for replay shortly.

And now I will turn the call over to Mr. Lawrence Keusch, Vice President of Investor Relations and Strategy Development. Lawrence?

Lawrence Keusch

Good morning, everyone, and welcome to the Teleflex Inc. Third Quarter 2024 Earnings Conference Call. The press release and slides to accompany this call are available on our website at teleflex.com. As a reminder, a replay will be available on our website. Those wishing to access the replay can refer to our press release from this morning for details.

Participating on today's call are Liam Kelly, Chairman, President and Chief Executive Officer; and Thomas Powell, Executive Vice President and Chief Financial Officer. Liam and Tom will provide prepared remarks, and then we will open the call to Q&A.

Before we begin, I would like to remind you that some of the matters discussed in the conference call will contain forward-looking statements regarding future events as outlined in the slides posted to the Investor Relations section of the Teleflex website. We wish to caution you that such statements are, in fact, forward-looking in nature and are subject to risks and uncertainties and actual events or results may differ materially. The factors that could cause actual results or events to differ materially include, but are not limited to, factors referenced in our press release today as well as our filings with the SEC, including our Form 10-K, which can be accessed on our website.

Now I will turn the call over to Liam for his remarks.

Liam Kelly

Thank you, Larry, and good morning, everyone. On this morning's call, we will discuss the third quarter results, review some commercial highlights and provide an update on our financial guidance for 2024. For the third quarter, Teleflex revenues were $764.4 million, up 2.4% year-over-year on a GAAP basis and an increase of 2.2% on adjusted constant currency basis. Third quarter revenues were slightly below our $765 million to $770 million guidance which reflects unanticipated softness in our OEM business.