LivaNova Q2 2020 Earnings Report
Key Takeaways
LivaNova reported a significant decrease in sales for Q2 2020 due to the impact of COVID-19 on procedure volumes and capital equipment purchases. The company responded by reducing expenses and improving liquidity. While COVID-19 continues to impact the business, there are encouraging signs of gradual improvement in procedure volumes and new product releases.
Worldwide sales decreased by 34.3% on a reported basis and 33.1% on a constant-currency basis compared to Q2 2019.
GAAP diluted loss per share from continuing operations was $1.81, while adjusted diluted loss per share was $0.15.
Implemented actions to reduce expenses, improve liquidity, and increase financial flexibility in response to current conditions.
Encouraged by gradual improvement in procedure volumes, full commercial release of LifeSPARC in the U.S., and launch of Perceval® Plus in Europe.
LivaNova
LivaNova
LivaNova Revenue by Segment
LivaNova Revenue by Geographic Location
Forward Guidance
LivaNova expects worldwide net sales for full-year 2020 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 $1.15 to $1.35, which reflects an incremental impact of $0.28 due to financing activities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income