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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q


(Mark One)
☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

Commission file number 1-5353

TELEFLEX INCORPORATED

(Exact name of registrant as specified in its charter)


Delaware						23-1147939
(State or other jurisdiction of incorporation or organization)						(I.R.S. employer identification no.)

550 E. Swedesford Rd., Suite 400 Wayne, PA 19087

(Address of principal executive offices and zip code)

(610) 225-6800

(Registrant’s telephone number, including area code)

(None)

(Former Name, Former Address and Former Fiscal Year,

If Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $1.00 per share

TFX

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The registrant had 44,270,211 shares of common stock, par value $1.00 per share, outstanding as of May 5, 2026.

TELEFLEX INCORPORATED

QUARTERLY REPORT ON FORM 10-Q

FOR THE QUARTER ENDED MARCH 31, 2026

TABLE OF CONTENTS

Page

PART I — FINANCIAL INFORMATION

Item 1:

Financial Statements (Unaudited):

Condensed Consolidated Statements of Income (Loss)

Condensed Consolidated Statements of Comprehensive Income (Loss)

Condensed Consolidated Balance Sheets

Condensed Consolidated Statements of Cash Flows

Condensed Consolidated Statements of Changes in Equity

Notes to Condensed Consolidated Financial Statements

Item 2:

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Item 4:

Controls and Procedures

PART II — OTHER INFORMATION

Item 1:

Legal Proceedings

Item 1A:

Risk Factors

Item 2:

Unregistered Sales of Equity Securities and Use of Proceeds

Item 3:

Defaults Upon Senior Securities

Item 4:

Mine Safety Disclosures

Item 5:

Other Information

Item 6:

Exhibits

SIGNATURES

PART I — FINANCIAL INFORMATION

Item 1. Financial Statements

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(Unaudited)


	Three Months Ended
	March 31, 2026		March 30, 2025
	(Dollars and shares in thousands, except per share)
Net revenues	$	548,262	$	414,258
Cost of goods sold	240,836		158,827
Gross profit	307,426		255,431
Selling, general and administrative expenses	226,012		152,914
Research and development expenses	44,386		25,295


Restructuring charges, separation costs and impairment charges	16,845		1,422

Income from continuing operations before interest and taxes	20,183		75,800
Interest expense	25,718		18,537
Interest income	(1,708)		(1,488)

(Loss) income from continuing operations before taxes	(3,827)		58,751
Taxes on income from continuing operations	1,011		6,417
(Loss) income from continuing operations	(4,838)		52,334
Operating (loss) income from discontinued operations	(2,643)		50,060
Taxes on operating income from discontinued operations	673		7,392
(Loss) income from discontinued operations	(3,316)		42,668
Net (loss) income	$	(8,154)	$	95,002
Earnings per share:
Basic:
(Loss) Income from continuing operations	$	(0.11)	$	1.14
(Loss) Income from discontinued operations	(0.07)		0.94
Net (loss) income	$	(0.18)	$	2.08
Diluted:
(Loss) Income from continuing operations	$	(0.11)	$	1.14
(Loss) Income from discontinued operations	(0.07)		0.93
Net (loss) income	$	(0.18)	$	2.07
Weighted average common shares outstanding
Basic	44,257		45,782
Diluted	44,257		45,926

The accompanying notes are an integral part of the condensed consolidated financial statements.

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)


	Three Months Ended
	March 31, 2026		March 30, 2025
	(Dollars in thousands)
Net (loss) income	$	(8,154)	$	95,002
Other comprehensive (loss) income, net of tax:
Foreign currency translation, net of tax of $2,605, and $6,673 for the three month periods, respectively	(20,855)		26,289
Pension and other postretirement benefit plans adjustment, net of tax of $10 and $188 for the three month periods, respectively	(69)		(603)
Derivatives qualifying as hedges, net of tax of $(60) and $125 for the three month periods, respectively	1,449		(2,096)
Other comprehensive (loss) income, net of tax:	(19,475)		23,590
Comprehensive (loss) income	$	(27,629)	$	118,592

The accompanying notes are an integral part of the condensed consolidated financial statements.

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)


	March 31, 2026		December 31, 2025
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	309,411	$	378,564
Accounts receivable, net	365,526		345,583
Inventories	380,861		404,395
Prepaid expenses and other current assets	149,808		150,678
Prepaid taxes	16,793		19,566
Current assets of discontinued operations	637,271		639,552
Total current assets	1,859,670		1,938,338
Property, plant and equipment, net	476,955		498,281
Operating lease assets	84,912		91,817
Goodwill	2,297,447		2,305,050
Intangible assets, net	1,485,885		1,524,150
Deferred tax assets	12,206		12,593
Other assets	113,557		112,984
Non-current assets of discontinued operations	452,370		464,026
Total assets	$	6,783,002	$	6,947,239
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	103,125	$	100,000
Accounts payable	143,627		130,201
Accrued expenses	118,423		117,350

Payroll and benefit-related liabilities	103,345		124,769
Accrued interest	16,478		5,404
Income taxes payable	11,824		18,787
Other current liabilities	103,929		137,195
Current liabilities of discontinued operations	127,298		128,320
Total current liabilities	728,049		762,026
Long-term borrowings	2,514,268		2,541,449
Deferred tax liabilities	169,429		183,749

Noncurrent liability for uncertain tax positions	3,831		3,536
Noncurrent operating lease liabilities	68,320		84,210
Other liabilities	162,507		194,532
Non-current liabilities of discontinued operations	52,162		52,969
Total liabilities	3,698,566		3,822,471
Commitments and contingencies
Total shareholders' equity	3,084,436		3,124,768
Total liabilities and shareholders' equity	$	6,783,002	$	6,947,239

The accompanying notes are an integral part of the condensed consolidated financial statements.

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


	Three Months Ended
	March 31, 2026		March 30, 2025
	(Dollars in thousands)
Cash flows from operating activities of continuing operations:
Net (loss) income	$	(8,154)	$	95,002
Adjustments to reconcile net income to net cash provided by operating activities:
(Income) loss from discontinued operations	3,316		(42,668)
Depreciation expense	19,853		13,037
Intangible asset amortization expense	33,890		25,583
Deferred financing costs and debt discount amortization expense	1,481		851

SEC Form 10-Q filed by Teleflex Incorporated