LIVN - LivaNova gains after revised guidance for 2021 exceeds consensus

LivaNova (LIVN +13.4%) has climbed more than a tenth to record the biggest intra-day gain since March 2020 after the company exceeded forecasts with its Q3 2021 financials and the updated earnings guidance beat the consensus. During the quarter, the worldwide sales from continuing operations added ~6% YoY to reach $253.2M as Cardiopulmonary and Neuromodulation businesses generated ~$123.2M and $113.3M in sales, respectively, with ~15% YoY growth. However, the Cardiovascular segment contracted ~1.6% YoY with ~138.6M in sales. “We are encouraged by our sales growth year over year and compared to 2019, excluding the impact of Heart Valves. In addition, we saw improvements in margins and cash flow generation,” remarked CEO Damien McDonald. Thanks to positive sales trends and widening gross margins, the adj. operating income increased ~49% YoY to $47.9M while adj. diluted EPS climbed ~79% YoY to reach $0.68. The company has raised the guidance to indicate an 8%

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LivaNova gains after revised guidance for 2021 exceeds consensus