Q2 2024 LivaNova PLC Earnings Call Transcript
Key Points
- LivaNova PLC (LIVN) achieved its sixth consecutive quarter of double-digit revenue growth, with a 10% increase in revenue compared to the previous year.
- The cardiopulmonary segment saw a 14% revenue increase, driven by strong demand for heart-lung machines and oxygenators.
- The company is increasing its 2024 full-year revenue and adjusted earnings per share guidance.
- LivaNova PLC (LIVN) is optimizing its difficult-to-treat depression program, which is expected to result in at least $0.3 of incremental adjusted EPS in 2025.
- The epilepsy segment experienced a 7% revenue increase, with growth in both new and replacement implants.
- The European Court of Justice ruling on de-merger law could potentially hold LivaNova PLC (LIVN) responsible for liabilities prior to a spin-off, creating legal uncertainties.
- The adjusted gross margin decreased to 69% from 72% in the second quarter of 2023, primarily due to a provision for the Italian payback measure.
- The company anticipates slower sales growth in the second half of 2024 compared to the first half.
- Foreign exchange had an unfavorable year-over-year impact of approximately $3 million, or about 1% of revenue.
- The adjusted effective tax rate increased to 21% from 10% in the second quarter of 2023, impacting net earnings.
Good day, ladies and gentlemen, and welcome to the LivaNova PLC second-quarter 2024 earnings conference call. My name is Emily, and I'll be moderating your call today. (Operator Instructions)
As a reminder, this conference call is being recorded.
I would now like to introduce your host for today's conference, Mr. Matthew Dodds, LivaNova's Senior Vice President of Corporate Development and IT. Please go ahead sir,
Thank you, Emily, and welcome to our conference call and webcast discussing LivaNova's financial results for the second-quarter of 2024. Joining me on today's call are Vladimir Makatsaria, our Chief Executive Officer and Member of the Board of Directors; Alex Shvartsburg, our Chief Financial Officer; Ahmet Tezel, our Chief Innovation Officer, and Zach Glazier, Manager of Investor Relations.
Before we begin, I would like to remind you that the discussions during this call will include forward-looking statements, factors that could cause
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
