Livanova

Q2 FY2026 EarningsQ2 FY26 results beat consensus across all headline metrics, with revenue of $390.6M exceeding the $380.6M forecast and adjusted EPS of $1.26 significantly outperforming the $1.09 estimate. Strong performance was driven by the Cardiopulmonary and Neuromodulation segments, which grew 11.2% and 10.1% YoY respectively. Management raised full-year constant-currency revenue growth guidance to 8-9% and adjusted EPS to $4.30-$4.40, although free cash flow guidance was lowered due to strategic investments. A major discrete tax benefit of $95.4M primarily drove the massive GAAP net income beat.