LivaNova plc (NASDAQ: LIVN) reported Q2 EPS of ($0.15), $0.15 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $182.2 million versus the consensus estimate of $169.73 million.

"Responding to current conditions, we implemented actions to continue serving our patients, their families and physicians. At the same time, we significantly reduced expenses, improved liquidity and increased financial flexibility. I am proud of our employees' determination in overcoming the challenges created by COVID-19," said Damien McDonald, Chief Executive Officer of LivaNova. "While COVID-19 continues to impact our business, we are encouraged by several trends and achievements, including a gradual improvement in procedure volumes, the full commercial release of LifeSPARC™ in the U.S. and the launch of Perceval® Plus in Europe."

GUIDANCE:

LivaNova plc sees FY2020 EPS of $1.15-$1.35, versus the consensus of $1.35.

LivaNova worldwide net sales for full-year 2020 are still expected to decline between 7 and 17 percent on a constant-currency basis. In the second quarter, we undertook actions to improve our liquidity and refinance our debt. As a result, adjusted diluted earnings per share from continuing operations for 2020 are expected to be in the range of $1.15 to $1.35, which reflects an incremental impact of $0.28 due to these financing activities.

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