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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.
LivaNova
LivaNova
LivaNova Revenue by Segment
Revenue by Segment
Cardiopulmonary Revenue
CapyFin.comNeuromodulation Revenue
CapyFin.comOther Revenue
CapyFin.com 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