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Dec 31, 2020
LivaNova Q4 2020 Earnings Report
LivaNova's Q4 2020 performance was impacted by COVID-19, with sales declining by 6.3% on a reported basis and 7.7% on a constant-currency basis. Adjusted diluted earnings per share were $0.71, compared to $1.00 in the same quarter of the previous year.
Key Takeaways
LivaNova's Q4 2020 sales were $269.6 million, a decrease of 6.3% compared to the previous year. The company reported a GAAP diluted loss per share of $5.74, while adjusted diluted earnings per share were $0.71. The results were affected by the COVID-19 pandemic, but sales showed sequential improvement compared to Q3 2020.
Worldwide sales from continuing operations decreased by 6.3% on a reported basis.
GAAP diluted loss per share from continuing operations was $5.74.
Adjusted diluted earnings per share from continuing operations was $0.71.
Sales in all product categories and regions improved sequentially over the third quarter of 2020.
Revenue by Segment
Forward Guidance
LivaNova expects worldwide net sales from continuing operations for full-year 2021 to grow between 8 and 13 percent on a constant-currency basis. Adjusted diluted earnings per share from continuing operations for 2021 are expected to be in the range of $1.40 to $1.90.
Positive Outlook
- Sales levels are expected to return to more normalized levels in the second half of the year.
- Worldwide net sales from continuing operations for full-year 2021 to grow between 8 and 13 percent on a constant-currency basis.
- Adjusted diluted earnings per share from continuing operations for 2021 are expected to be in the range of $1.40 to $1.90.
- Adjusted free cash flow, excluding extraordinary items, will be in the range of $30 to $50 million.
Challenges Ahead
- Continued COVID-related uncertainty is anticipated in 2021.
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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