LONDON - LivaNova PLC (NASDAQ:LIVN), a leader in medical technology, reported a successful fourth quarter, surpassing analyst expectations with an adjusted earnings per share (EPS) of $0.87, which was $0.09 higher than the estimated $0.78. The company's revenue reached $310.1M, exceeding the consensus estimate of $288.07 million. This performance represents a significant 12.8% increase compared to the same quarter in the previous year.
Bill Kozy, Interim CEO and Board Chair, attributed the strong results to robust revenue growth across all regions, improved adjusted operating margin, and a 17% rise in adjusted EPS. Kozy expressed satisfaction with the financial outcomes and the progress in refining the company's business strategy and portfolio. He also expressed confidence in the incoming CEO, Vladimir A. Makatsaria, to continue building on these results.
The company's Cardiopulmonary and Neuromodulation segments drove the revenue growth, with reported increases of 18.3% and 7.7%, respectively. This growth was primarily fueled by sales of the EssenzTM Perfusion System in Europe and the U.S. and strength in the Europe and U.S. regions for Neuromodulation. The Advanced Circulatory Support (ACS) segment also saw a revenue increase of 5.0%, driven by an uptick in case volumes.
Looking forward, LivaNova anticipates full-year 2024 revenue to grow between 4 and 5 percent on a constant-currency basis. Excluding the impact of winding down the ACS segment, the company expects revenue growth between 6 and 7 percent on a constant-currency basis. The adjusted EPS guidance for 2024 is set to be in the range of $2.95 to $3.05, aligning with the analyst consensus of $3.01.
LivaNova's stock movement in response to the earnings release was not provided, but the earnings beat suggests a positive market reaction. The company's strategic focus on its core segments and the leadership transition are poised to create shareholder value and continue serving patients effectively.
This financial report is based on information provided by LivaNova PLC and does not include any forward-looking statements or predictions by the reporting AI.
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