LONDON - Medical technology company LivaNova PLC (NASDAQ:LIVN) reported better-than-expected third quarter results and raised its full-year 2024 outlook on Wednesday.
The company posted adjusted earnings per share of $0.90, surpassing analyst estimates of $0.72, while revenue grew 11.2% YoY to $318.1 million, exceeding the consensus forecast of $300.46 million.
LivaNova's Cardiopulmonary segment led growth with a 15.6% YoY revenue increase to $172.2 million, driven by strong sales of its Essenz Perfusion System and consumables across all regions. The Neuromodulation segment saw revenue rise 8.5% to $139.9 million, with growth in the U.S. and Rest of World markets offsetting declines in Europe.
"LivaNova delivered strong revenue and operating income growth in the third quarter," said CEO Vladimir Makatsaria. "This performance reflects the strength of our team's ongoing execution and steadfast commitment to serving customers and their patients."
For full-year 2024, LivaNova now expects revenue growth of 8.5% to 9.5% on a constant-currency basis, up from its previous guidance. The company also raised its adjusted EPS forecast to a range of $3.30 to $3.40.
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