- LivaNova PLC LIVN posted Q3 sales of $253.2 million, +5.5% Y/Y on a reported basis and 5% on a constant-currency basis, beating the consensus of $245.27 million.
- Excluding Heart Valves business, divested in June, sales increased by 15.7% on a reported basis and 15.2% on a constant currency.
- Sales in Cardiopulmonary products were $123.2 million, +14.5% primarily related to growth in oxygenator and heart-lung machine sales.
- Neuromodulation sales were $113.3 million, up 14.6%, reflecting improved market dynamics across all regions.
- Q3 adjusted EPS reached $0.68 up from $0.38 posted a year ago, easily surpassing the consensus of $0.44.
- “Our third-quarter performance demonstrates a continued focus on execution across all regions in our key product lines amidst lingering COVID-19-related headwinds,” said CEO Damien McDonald.
- Guidance: LivaNova raised its FY21 guidance and said it expects sales growth of 8% - 11%, compared to earlier guidance of 5% - 10%.
- The Company expects adjusted EPS of $2.00 - $2.10, higher than prior guidance of $1.60 - $1.90.
- Price Action: LIVN shares are up 14% at $89.16 during the market session on the last check Wednesday.
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