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Mar 31, 2020
LivaNova Q1 2020 Earnings Report
Revenue decreased due to COVID-19 impact, while earnings per share were $0.79 and adjusted earnings per share were $0.33.
Key Takeaways
LivaNova's first quarter results were impacted by COVID-19, with a decrease in worldwide sales of 3.4% on a reported basis. GAAP diluted earnings per share were $0.79, and adjusted diluted earnings per share were $0.33. The company is closely monitoring the COVID-19 situation and taking actions to strengthen its liquidity position.
Worldwide sales decreased by 3.4% on a reported basis.
GAAP diluted earnings per share were $0.79.
Adjusted diluted earnings per share were $0.33.
Company expects the pandemic to adversely impact full-year results.
LivaNova
LivaNova
LivaNova Revenue by Segment
LivaNova Revenue by Geographic Location
Revenue by Segment
Cardiopulmonary Revenue
CapyFin.comNeuromodulation Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
LivaNova expects the pandemic to adversely impact full-year results, with Q2 experiencing the greatest impact and anticipates a steady improvement throughout the remainder of the year.
Positive Outlook
- Company implemented actions designed to strengthen its liquidity position and promote financial resiliency
- Company concluded execution of a series of amendments to our credit agreements that temporarily revise certain financial covenants and waive certain events of non-compliance prior to December 31, 2020
- Company is in the process of evaluating strategic capital raising options to fulfill short-and medium-term capital needs
- Company believes in its ability to execute on its strategy
- Company's long-term fundamental outlook remains strong.
Challenges Ahead
- LivaNova worldwide net sales for full-year 2020 are now expected to decline between 7 and 17 percent on a constant-currency basis
- Adjusted diluted earnings per share from continuing operations for 2020 are expected to be in the range of $1.40 to $1.70
- Company now estimates that adjusted cash flow from operations, excluding integration, restructuring and litigation payments, will be in the range of $80-$100 million for 2020.
- Company expects Q2 to experience the greatest impact
- Pandemic to adversely impact full-year results
Revenue & Expenses
Visualization of income flow from segment revenue to net income