<p>泰利福（Teleflex）已召開其第三季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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<p>泰利福最近的財報電話會議顯示出一種平衡的情緒，突出了公司面臨的優勢和挑戰。會議展示了令人印象深刻的收入增長和近期收購的成功整合，但也承認某些產品線和地區的困難影響了利潤率，導致收入指引的修訂。</p>
<h2>強勁的收入增長</h2>
<p>泰利福報告了第三季度強勁的收入數據，收入達到 9.13 億美元，同比增加 19.4%（按 GAAP 計算）。調整後的收入也表現強勁，達到 8.929 億美元，同比增加 16.8%（按報告計算）和 15.3%（按調整後的固定匯率計算）。</p>
<h2>血管介入業務表現</h2>
<p>泰利福最近收購的血管介入業務超出預期，同比增長 6.9%。這一表現突顯了收購的戰略價值及其對公司整體增長的積極貢獻。</p>
<h2>血管介入業務的成功整合</h2>
<p>泰利福在整合血管介入業務方面取得了顯著進展，整合活動順利進行，進一步鞏固了收購的成功。</p>
<h2>意大利回扣措施的積極影響</h2>
<p>意大利的立法變化導致準備金減少 2370 萬美元，對 EMEA 地區的收入產生了積極影響。這一調整為公司在該地區的運營提供了財務支持。</p>
<h2>Barrigel 在日本的擴展</h2>
<p>泰利福通過在日本推出 Barrigel，達成了一個重要里程碑，這標誌着其全球擴展戰略的重要一步，並可能在亞洲市場開闢新的收入來源。</p>
<h2>主動脈內球囊泵收入下降</h2>
<p>公司在主動脈內球囊泵業務面臨挑戰，由於訂單率低於預期，特別是在美國，導致 2025 年的收入預期減少 3000 萬美元。</p>
<h2>介入性泌尿學的挑戰</h2>
<p>介入性泌尿學的收入下降了 14.1%，主要是由於 UroLift 面臨重大壓力，儘管 Barrigel 的增長強勁。這突顯了該領域內的表現不一。</p>
<h2>麻醉收入下降</h2>
<p>麻醉收入下降了 1.4%，歸因於軍方訂單減少和氣管切開管的需求疲軟，表明該領域在維持增長方面面臨挑戰。</p>
<h2>OEM 的庫存管理問題</h2>
<p>OEM 收入同比下降 3.9%，主要是由於客户的庫存管理問題，反映出該領域的運營挑戰。</p>
<h2>毛利率和營業利潤率壓力</h2>
<p>泰利福面臨利潤率壓力，調整後的毛利率同比下降 350 個基點，主要由於關税和外匯匯率的影響。調整後的營業利潤率也下降了 400 個基點，突顯出運營費用的增加。</p>
<h2>前瞻性指導</h2>
<p>展望未來，泰利福提供了 2025 年的更新財務指引。公司預計調整後的固定匯率收入增長將在 6.9% 到 7.4% 之間，外匯利好為 3200 萬美元。調整後的收入增長預計在 8% 到 8.5% 之間，收入範圍為 33.05 億美元到 33.20 億美元。按 GAAP 計算，收入增長預計在 9.1% 到 9.6% 之間。調整後的毛利率預計約為 59%，關税緩解策略將影響減少到 2500 萬到 2600 萬美元。調整後的營業利潤率預計約為 24.5%，調整後的税率約為 12.5%。調整後的每股收益預計在 14.00 美元到 14.20 美元之間。</p>
<p>總之，泰利福的財報電話會議呈現出一種平衡的前景，強勁的收入增長和成功的收購整合是主要亮點。然而，特定產品線和地區的挑戰影響了利潤率，迫使收入指引進行修訂。公司的前瞻性指導依然樂觀，預計將繼續增長並進行戰略財務管理。</p>

泰利福

<p>Teleflex 第三季度的財報電話會議強調了強勁的收入增長，達到了 9.13 億美元，同比增長 19.4%，儘管某些產品線面臨挑戰。血管介入業務超出了預期，對整體增長產生了積極貢獻。然而，主動脈內球囊泵和介入泌尿學的收入出現了下降。公司修訂了 2025 年的收入指引，預計調整後的收入增長為 6.9% 至 7.4%。儘管面臨利潤壓力，Teleflex 對未來的增長和戰略財務管理仍持樂觀態度</p>

<p>Teleflex ((TFX)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>泰利福（Teleflex）已召開其第三季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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</div><p>Teleflex’s recent earnings call revealed a balanced sentiment, highlighting both strengths and challenges faced by the company. The call showcased impressive revenue growth and successful integration of recent acquisitions, yet acknowledged difficulties in certain product lines and regions that have impacted margins, leading to a revision in revenue guidance.</p>
<div class="lb-trans"><p>泰利福最近的財報電話會議顯示出一種平衡的情緒，突出了公司面臨的優勢和挑戰。會議展示了令人印象深刻的收入增長和近期收購的成功整合，但也承認某些產品線和地區的困難影響了利潤率，導致收入指引的修訂。</p>
</div><h2>Strong Revenue Growth</h2>
<div class="lb-trans"><h2>強勁的收入增長</h2>
</div><p>Teleflex reported robust revenue figures for the third quarter, with revenues reaching $913 million, marking a 19.4% increase year-over-year on a GAAP basis. Adjusted revenues were also strong at $892.9 million, reflecting a 16.8% increase year-over-year on a reported basis and a 15.3% rise on an adjusted constant currency basis.</p>
<div class="lb-trans"><p>泰利福報告了第三季度強勁的收入數據，收入達到 9.13 億美元，同比增加 19.4%（按 GAAP 計算）。調整後的收入也表現強勁，達到 8.929 億美元，同比增加 16.8%（按報告計算）和 15.3%（按調整後的固定匯率計算）。</p>
</div><h2>Vascular Intervention Business Performance</h2>
<div class="lb-trans"><h2>血管介入業務表現</h2>
</div><p>The Vascular Intervention business, recently acquired by Teleflex, exceeded expectations with a 6.9% year-over-year growth. This performance underscores the strategic value of the acquisition and its positive contribution to the company’s overall growth.</p>
<div class="lb-trans"><p>泰利福最近收購的血管介入業務超出預期，同比增長 6.9%。這一表現突顯了收購的戰略價值及其對公司整體增長的積極貢獻。</p>
</div><h2>Successful Integration of Vascular Intervention</h2>
<div class="lb-trans"><h2>血管介入業務的成功整合</h2>
</div><p>Teleflex has made significant progress in integrating the Vascular Intervention business, with integration activities proceeding smoothly and on track, further solidifying the acquisition’s success.</p>
<div class="lb-trans"><p>泰利福在整合血管介入業務方面取得了顯著進展，整合活動順利進行，進一步鞏固了收購的成功。</p>
</div><h2>Positive Impact of Italian Payback Measure</h2>
<div class="lb-trans"><h2>意大利回扣措施的積極影響</h2>
</div><p>Legislative changes in Italy have led to a $23.7 million decrease in reserve, positively impacting EMEA revenue. This adjustment has provided a financial boost to the company’s operations in the region.</p>
<div class="lb-trans"><p>意大利的立法變化導致準備金減少 2370 萬美元，對 EMEA 地區的收入產生了積極影響。這一調整為公司在該地區的運營提供了財務支持。</p>
</div><h2>Expansion of Barrigel in Japan</h2>
<div class="lb-trans"><h2>Barrigel 在日本的擴展</h2>
</div><p>Teleflex achieved a significant milestone by launching Barrigel in Japan, marking an important step in its global expansion strategy and potentially opening new revenue streams in the Asian market.</p>
<div class="lb-trans"><p>泰利福通過在日本推出 Barrigel，達成了一個重要里程碑，這標誌着其全球擴展戰略的重要一步，並可能在亞洲市場開闢新的收入來源。</p>
</div><h2>Intra-aortic Balloon Pump Revenue Decline</h2>
<div class="lb-trans"><h2>主動脈內球囊泵收入下降</h2>
</div><p>The company faced challenges with its intra-aortic balloon pump segment, experiencing a decline in revenue growth due to lower-than-expected order rates, particularly in the U.S., resulting in a $30 million reduction in revenue expectations for 2025.</p>
<div class="lb-trans"><p>公司在主動脈內球囊泵業務面臨挑戰，由於訂單率低於預期，特別是在美國，導致 2025 年的收入預期減少 3000 萬美元。</p>
</div><h2>Challenges in Interventional Urology</h2>
<div class="lb-trans"><h2>介入性泌尿學的挑戰</h2>
</div><p>Interventional Urology revenue saw a 14.1% decrease, mainly due to significant pressure on UroLift, despite strong growth for Barrigel. This highlights the mixed performance within the segment.</p>
<div class="lb-trans"><p>介入性泌尿學的收入下降了 14.1%，主要是由於 UroLift 面臨重大壓力，儘管 Barrigel 的增長強勁。這突顯了該領域內的表現不一。</p>
</div><h2>Decreased Anesthesia Revenue</h2>
<div class="lb-trans"><h2>麻醉收入下降</h2>
</div><p>Anesthesia revenue decreased by 1.4%, attributed to decreased military orders and softness in tracheostomy tubes, indicating challenges in maintaining growth in this sector.</p>
<div class="lb-trans"><p>麻醉收入下降了 1.4%，歸因於軍方訂單減少和氣管切開管的需求疲軟，表明該領域在維持增長方面面臨挑戰。</p>
</div><h2>Inventory Management Issues in OEM</h2>
<div class="lb-trans"><h2>OEM 的庫存管理問題</h2>
</div><p>OEM revenue experienced a 3.9% year-over-year decline, driven by customer inventory management issues, reflecting operational challenges in this area.</p>
<div class="lb-trans"><p>OEM 收入同比下降 3.9%，主要是由於客户的庫存管理問題，反映出該領域的運營挑戰。</p>
</div><h2>Gross Margin and Operating Margin Pressure</h2>
<div class="lb-trans"><h2>毛利率和營業利潤率壓力</h2>
</div><p>Teleflex faced pressure on its margins, with an adjusted gross margin decrease of 350 basis points year-over-year due to tariffs and foreign exchange rates. The adjusted operating margin also fell by 400 basis points, highlighting increased operating expenses.</p>
<div class="lb-trans"><p>泰利福面臨利潤率壓力，調整後的毛利率同比下降 350 個基點，主要由於關税和外匯匯率的影響。調整後的營業利潤率也下降了 400 個基點，突顯出運營費用的增加。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</h2>
</div><p>Looking ahead, Teleflex provided updated financial guidance for 2025. The company anticipates adjusted constant currency revenue growth between 6.9% and 7.4%, with a foreign exchange tailwind of $32 million. Adjusted revenue growth is projected at 8% to 8.5%, translating to a revenue range of $3.305 billion to $3.320 billion. On a GAAP basis, revenue growth is expected between 9.1% and 9.6%. The adjusted gross margin is expected to be approximately 59%, with tariff mitigation strategies reducing the impact to $25-$26 million. The adjusted operating margin is projected to be about 24.5%, with an adjusted tax rate around 12.5%. Adjusted earnings per share are anticipated to be between $14.00 and $14.20.</p>
<div class="lb-trans"><p>展望未來，泰利福提供了 2025 年的更新財務指引。公司預計調整後的固定匯率收入增長將在 6.9% 到 7.4% 之間，外匯利好為 3200 萬美元。調整後的收入增長預計在 8% 到 8.5% 之間，收入範圍為 33.05 億美元到 33.20 億美元。按 GAAP 計算，收入增長預計在 9.1% 到 9.6% 之間。調整後的毛利率預計約為 59%，關税緩解策略將影響減少到 2500 萬到 2600 萬美元。調整後的營業利潤率預計約為 24.5%，調整後的税率約為 12.5%。調整後的每股收益預計在 14.00 美元到 14.20 美元之間。</p>
</div><p>In summary, Teleflex’s earnings call presented a balanced outlook, with strong revenue growth and successful integration of acquisitions being key highlights. However, challenges in specific product lines and regions have impacted margins, necessitating a revision in revenue guidance. The company’s forward-looking guidance remains optimistic, with expectations of continued growth and strategic financial management.</p>
<div class="lb-trans"><p>總之，泰利福的財報電話會議呈現出一種平衡的前景，強勁的收入增長和成功的收購整合是主要亮點。然而，特定產品線和地區的挑戰影響了利潤率，迫使收入指引進行修訂。公司的前瞻性指導依然樂觀，預計將繼續增長並進行戰略財務管理。</p>
</div>

泰利福的財報電話會議：在挑戰中實現增長