LivaNova plc (NASDAQ: LIVN) reported Q1 EPS of $0.33, $0.10 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $242.4 million versus the consensus estimate of $244.1 million.

"As a healthcare company committed to improving the lives of patients around the world, LivaNova is closely monitoring the COVID-19 situation. Being true to our values, we prioritize patients and their well-being, and we are working tirelessly to ensure they have access to the products and services they require. We commend and support our employees for their efforts and commitment to providing life-changing products and therapies during this difficult time," said Damien McDonald, Chief Executive Officer of LivaNova. "Our business was tracking at or above expectations until mid-March, when the global market started to experience a sharp decline in elective surgeries. Despite the near-term uncertainty created by COVID-19, we are resilient and will remain focused on thoughtful investments, maintaining a strong financial profile and strengthening our balance sheet."

GUIDANCE:

LivaNova plc sees FY2020 EPS of $1.40-$1.70, versus the consensus of $2.54.

As a result of the impact of COVID-19, LivaNova worldwide net sales for full-year 2020 are now expected to decline between 7 and 17 percent on a constant-currency basis. Adjusted diluted earnings per share from continuing operations for 2020 are expected to be in the range of $1.40 to $1.70.

The Company now estimates that adjusted cash flow from operations, excluding integration, restructuring and litigation payments, will be in the range of $80-$100 million for 2020.

"Looking ahead, we expect the pandemic to adversely impact full-year results," said McDonald. "We expect Q2 to experience the greatest impact and anticipate a steady improvement throughout the remainder of the year. We believe in our ability to execute on our strategy and our long-term fundamental outlook remains strong."

For earnings history and earnings-related data on LivaNova plc (LIVN) click here.