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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.
Revenue by Segment
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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