LivaNova (NSDQ:LIVN) today posted third-quarter results that beat the overall consensus on Wall Street.
The London-based company reported losses of $42,000,000, or 82¢ per share, on sales of $253.2 million for the three months ended Sept. 30, for sales growth of 5.46% from Q3 2020.
Adjusted to exclude one-time items, earnings per share were 68¢, 24¢ ahead of The Street, where analysts were looking for sales of $245.3 million.
“Our third-quarter performance demonstrates a continued focus on execution across all regions in our key product lines amidst lingering COVID-19-related headwinds,” CEO Damien McDonald said in a news release.
“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,” he said. “We also strengthened our financial flexibility with the completion of an equity offering during the quarter, which allowed us to retire the $450 million term loan and enter into a new $125 million revolver.”
LivaNova raised its full-year guidance and said it expects sales from continuing operations for the full year to grow between 8% and 11%.
Shares in LIVN were up 14% to $89.23 at market open.