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Dec 31, 2021
LivaNova Q4 2021 Earnings Report
LivaNova's Q4 2021 performance saw a slight increase in worldwide sales and achieved adjusted earnings per share, driven by growth in Neuromodulation and Cardiopulmonary segments.
Key Takeaways
LivaNova PLC reported a slight increase in worldwide sales from continuing operations for Q4 2021, with significant growth when excluding the divested Heart Valves business. The company's execution met or exceeded the high end of full-year guidance, driven by Neuromodulation and Cardiopulmonary sales. Adjusted diluted earnings per share was $0.57.
Worldwide sales from continuing operations increased by 0.2% on a reported basis, and 1.8% on a constant-currency basis.
Excluding the Heart Valves business, sales from continuing operations increased by 10.1% on a reported basis and 11.8% on a constant-currency basis.
Fourth quarter adjusted diluted earnings per share from continuing operations was $0.57.
The company expects worldwide net sales for full-year 2022 to grow between 3 and 5 percent on a constant-currency basis after excluding the impact of the Heart Valves divestiture.
Forward Guidance
LivaNova expects worldwide net sales for full-year 2022 to grow between 3 and 5 percent on a constant-currency basis after excluding the impact of the Heart Valves divestiture. Adjusted diluted earnings per share from continuing operations for 2022 are expected to be in the range of $2.50 to $2.80, assuming a share count of 54 million for full-year 2022. In 2022, the Company estimates that adjusted free cash flow will be in the range of $90 to $110 million.
Positive Outlook
- Worldwide net sales for full-year 2022 to grow between 3 and 5 percent on a constant-currency basis after excluding the impact of the Heart Valves divestiture.
- Adjusted diluted earnings per share from continuing operations for 2022 are expected to be in the range of $2.50 to $2.80.
- Assumes a share count of 54 million for full-year 2022.
- Adjusted free cash flow will be in the range of $90 to $110 million.
Historical Earnings Impact
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