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Owens & Minor, Inc. (NYSE: OMI) is a prominent healthcare logistics company specializing in the distribution and logistics of medical products. The company plays a crucial role in ensuring the seamless delivery of vital medical supplies from manufacturers to healthcare providers. With a presence in both the United States and Europe, Owens & Minor operates strategically positioned logistics platforms that serve markets responsible for three-quarters of global healthcare spending.
Headquartered in Richmond, Virginia, this Fortune 500 company boasts annualized revenues exceeding $9 billion. Owens & Minor's diverse customer base includes independent hospitals, large integrated healthcare networks, group purchasing organizations, healthcare product manufacturers, and the federal government.
Owens & Minor operates under two main segments: Products & Healthcare Services and Patient Direct. The Products & Healthcare Services segment focuses on the manufacturing and sourcing of medical-surgical products. This segment also provides solutions to prevent healthcare-associated infections across various healthcare settings. On the other hand, the Patient Direct segment delivers disposable medical supplies directly to patients and home health agencies, enhancing the accessibility of essential healthcare products.
Recent achievements include strategic partnerships to expand their reach and optimize their supply chain operations. These initiatives aim to enhance service efficiency, ensuring that patients receive necessary medical supplies promptly and healthcare providers can focus on delivering quality care.
Owens & Minor's unwavering commitment to innovation and quality has positioned it as a leader in healthcare logistics. For more detailed information, visit their official website.
Owens & Minor (NYSE: OMI) reported Q3 2024 financial results with consolidated revenue of $2.7 billion, up 5% year-over-year. The company posted a GAAP net loss of $(13) million or $(0.17) per share, with adjusted earnings per share of $0.42. Patient Direct revenue grew 6% to $687 million, while Products & Healthcare Services revenue increased 5% to $2.0 billion. The company achieved $198 million in total debt reduction and reported adjusted EBITDA of $142 million, up 5% year-over-year. For 2024, guidance includes revenue of $10.6-10.8 billion, adjusted EBITDA of $540-550 million, and adjusted EPS of $1.45-1.55.
Owens & Minor (NYSE: OMI) has announced its plans to release financial results for the third quarter of 2024 on Monday, November 4, 2024, before trading begins on the New York Stock Exchange. The company will host a conference call for investors and analysts at 8:30 a.m. ET on the same day.
Participants can access the call via toll-free dial-in at 1-888-300-2035 or toll dial-in at 1-646-517-7437, using the conference ID access code 1058917. A simultaneous live webcast will be available on the Investor Relations page of the Owens & Minor website. A replay of the webcast can be accessed following the presentation.
Owens & Minor is a Fortune 500 global healthcare solutions company providing essential products and services that support care from hospital to home. With over 100 years of experience, the company and its affiliated brands serve patients, providers, and communities worldwide.
Owens & Minor (NYSE: OMI) has appointed Jonathan Leon as Executive Vice President and Chief Financial Officer, effective immediately. Leon, who has been with the company since 2017, will retain his corporate treasurer responsibilities while a search for his successor is underway. He brings over 25 years of experience in corporate finance, treasury, and strategy to the role.
Leon previously served as Interim CFO and Corporate Treasurer since June 2024. He will report directly to Edward Pesicka, President and CEO of Owens & Minor. Before joining the company, Leon spent 18 years at The Brink's Company in various finance roles. The appointment follows a comprehensive process, with the Board unanimously agreeing on Leon's suitability for the position.
Owens & Minor (OMI) has announced a new partnership with Google Cloud to enhance its QSight® clinical inventory management system. This collaboration aims to optimize complex inventory management for hospitals and health systems by leveraging Google Cloud's Vertex AI platform. The partnership will focus on improving QSight's ability to manage medical supplies, surgical implants, and human tissue products more efficiently.
Key benefits include:
- Enhanced real-time visibility and predictive capabilities
- Improved cost management and efficiency
- Reduced risk of expired product usage
- Decreased inventory loss
Owens & Minor (NYSE: OMI), a Fortune 500 global healthcare solutions company, has announced its participation in the 2024 Baird Global Healthcare Conference in New York City. Ed Pesicka, President and CEO, and Jon Leon, Corporate Treasurer and interim CFO, will engage in a fireside chat on Tuesday, September 10, 2024, at 1:25 p.m. EDT. The company will also host one-on-one meetings with investors during the conference.
Owens & Minor, celebrating over 100 years in business, provides essential products and services supporting healthcare from hospital to home. With affiliated brands Apria®, Byram®, and HALYARD*, the company employs more than 20,000 teammates worldwide. Their mission is to make each day better for patients, providers, and communities they serve, embodying their slogan 'Life Takes Care™'.
Owens & Minor (NYSE: OMI) reported Q2 2024 financial results with consolidated revenue of $2.7 billion, up 4% year-over-year. The company posted a net loss of $(32) million or $(0.42) per share, but doubled its adjusted earnings per share to $0.36. Adjusted EBITDA grew 12% to $127 million. Key highlights include:
- Patient Direct revenue up 4% to $660 million
- Products & Healthcare Services revenue up 4% to $2.0 billion
- Operating cash flow of $116 million, enabling $71 million debt reduction
- Announced agreement to acquire Rotech Healthcare Holdings
OMI reaffirmed its 2024 guidance, projecting revenue of $10.5-$10.9 billion and adjusted EBITDA of $550-$590 million. The company recorded a one-time tax charge of $17 million related to past transfer pricing methodology.
Owens & Minor (NYSE: OMI) released preliminary Q2 2024 financial results and reaffirmed its 2024 annual guidance. Key highlights include:
- Q2 2024 revenue: $2,651 - $2,671 million
- Adj. Operating Income: $72 - $76 million
- Adj. Net Income per share: $0.32 - $0.36
- Operating cash flow: $111 – $116 million
- Total debt and net debt reduction: $68 - $71 million
The company recorded a one-time income tax charge of $17 million related to past transfer pricing methodology. For full-year 2024, OMI expects:
- Revenue: $10.5 - $10.9 billion
- Adjusted EBITDA: $550 - $590 million
- Adjusted EPS: $1.40 - $1.70
The outlook excludes the expected impact of the Rotech acquisition. OMI will host a conference call on August 2, 2024, to discuss full Q2 results.
Owens & Minor (NYSE: OMI) has announced a definitive agreement to acquire Rotech Healthcare Holdings for $1.36 billion in cash. The net purchase price is approximately $1.32 billion after anticipated tax benefits. Rotech, a national leader in home medical equipment, generated about $750 million in revenue with an EBITDA margin of nearly 30% in 2023. This acquisition aligns with Owens & Minor's strategy to expand in the home-based care space, strengthening its Patient Direct segment. The transaction is expected to be adjusted EPS neutral in the first full year and accretive by about $0.15 in the second year. Owens & Minor anticipates achieving synergies of approximately $50 million by the end of year three. The deal is subject to customary closing conditions and is expected to close by the end of 2024.
Owens & Minor (NYSE: OMI), a global healthcare solutions company, will participate in the Leerink Partners’ Healthcare Crossroads Conference on May 29, 2024. CEO Ed Pesicka and CFO Alex Bruni will host a webcasted fireside chat at 11:00 a.m. EDT. The company will also conduct one-on-one meetings with investors. Owens & Minor specializes in providing healthcare products, self-manufactured items, proprietary product portfolios, distribution services, and innovative technology. With over 20,000 employees, the company aims to support healthcare from the hospital to the home. For more information, visit their investor relations page or their website.
Owens & Minor, Inc. (NYSE: OMI) will be participating in the BofA Securities 2024 Health Care Conference on May 15, 2024. The company will have a webcasted fireside chat and one-on-one meetings with investors. Owens & Minor is a Fortune 500 global healthcare solutions company providing essential products and services. For more information, visit their website or follow them on social media.
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