LivaNova PLC

Latest Results (07.08.2024):

Revenue Growth

LivaNova PLC reported second-quarter 2024 revenue of $318.6 million, marking an 8.4% increase on a reported basis and a 9.6% increase on a constant-currency basis compared to the same period in the previous year. Excluding the impact of the Advanced Circulatory Support (ACS) segment wind down, revenue increased by 10.8% on a constant-currency basis.

Earnings Per Share

For the second quarter of 2024, LivaNova PLC reported U.S. GAAP diluted earnings per share of $0.30 and adjusted diluted earnings per share of $0.93. This represents a significant improvement from the second quarter of 2023, where the company reported U.S. GAAP diluted earnings per share of $0.02 and adjusted diluted earnings per share of $0.78.

Operating Income

LivaNova PLC's operating income for the second quarter of 2024 was $40.2 million on a U.S. GAAP basis, compared to $17.4 million in the same quarter of 2023. Adjusted operating income for the second quarter of 2024 was $66.9 million, up from $49.5 million in the second quarter of 2023.

Segment Performance

In the second quarter of 2024, LivaNova PLC's Cardiopulmonary segment revenue increased by 12.7% on a reported basis and 14.5% on a constant-currency basis, driven by sales of the Essenz Perfusion System and strong consumables demand. The Neuromodulation segment saw a revenue increase of 7.3% on a reported basis and 7.8% on a constant-currency basis, with growth across all regions driven by an increase in total implants.

Full-Year 2024 Guidance

LivaNova PLC has raised its full-year 2024 revenue growth guidance to between 7% and 8% on a constant-currency basis. Excluding the impact of the ACS segment wind down, the company expects revenue growth of between 9% and 10% on a constant-currency basis. Adjusted diluted earnings per share for 2024 are now expected to be in the range of $3.10 to $3.20.