https://assets.capyfin.com/instruments/678fdc13234e27009c5d5ed4.png avatar
LivaNova
🇬🇧 NASDAQ:LIVN
View Company
OverviewEarningsDividends
•
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.

Total Revenue
$242M
Previous year: $251M
-3.3%
EPS
$0.33
Previous year: $0.54
-38.9%
Gross Profit
$165M
Previous year: $164M
+1.0%
Cash and Equivalents
$126M
Previous year: $50.8M
+147.8%
Free Cash Flow
-$115M
Previous year: -$3.77M
+2943.3%
Total Assets
$2.45B
Previous year: $2.6B
-5.6%

LivaNova

LivaNova

LivaNova Revenue by Segment

LivaNova 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
  • 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

Company Overview

Full financial data and analysis

View LivaNova