Teleflex shares slump as hurricane impact weighs on annual revenue forecast
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Teleflex shares fell over 16% after the company revised its annual revenue forecast downwards due to canceled surgeries and a shortage of intravenous saline fluids caused by recent hurricanes. The new revenue growth expectation is between 2.9% and 3.4%, down from 3.4% to 4.4%. CEO Liam Kelly described the impact as "short term, temporary." The company also reported a decline in sales in its OEM segment and missed quarterly revenue estimates, although adjusted profit per share exceeded expectations.
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