Owens & Minor Outlines Long-Term Strategy to Drive Sustainable Growth at 2021 Investor Day

Rhea-AI Summary

Owens & Minor (NYSE-OMI) announced a virtual meeting to discuss its future growth strategy and long-term financial targets. CEO Edward A. Pesicka highlighted a robust performance, projecting adjusted earnings per share exceeding $6.00 by 2026, significantly higher than 2019's adjusted earnings. The company plans to leverage its core business improvements, financial strength, and sustainable growth initiatives, focusing on stakeholder value. The press release notes that GAAP financial forecasting remains impractical due to unpredictable elements, emphasizing reliance on adjusted metrics for future projections.

Positive

• Projected adjusted earnings per share exceeding $6.00 by 2026, doubling 2022 guidance.
• Strong focus on sustainable growth through multi-pronged strategies.
• Disciplined investments lead to significant changes and improved position post-pandemic.

Negative

• Inability to provide GAAP financial guidance due to unpredictable elements.
• Risks associated with assumptions underlying future projections not detailed.

Owens & Minor, Inc. (NYSE-OMI), a global healthcare solutions provider, announced that at a virtual meeting with the investment community to be held later today, members of its leadership team will discuss the Company’s future growth strategy and key long-term financial targets.

“I’m proud of the exceptional performance that the team has delivered since I joined. Our performance has allowed us to provide 2022 guidance that is about 6 times higher than 2019 adjusted earnings, and puts us in a much stronger position than we were pre-pandemic. Our disciplined approach to investing has driven fundamental change and we believe this has positioned Owens & Minor for long-term success, allowing us to target adjusted earnings per share in excess of $6.00 in 2026, doubling our earnings guidance from 2022,” said Edward A. Pesicka, President & Chief Executive Officer of Owens & Minor.

“Our laser-focused execution firmly repositions us and provides numerous levers to drive future growth and value, with investments that are already underway,” added Pesicka.

At the meeting, members of the Company's leadership team will provide their perspective on future business trends and highlight the strategic priorities that will drive long-term growth, including:

• Leverage the Foundation: Harnessing the multi-year rebuild of core business discipline, culture and processes;
• Utilize Financial Strength: Continuing the momentum of deleveraging and utilizing balance sheet strength to drive growth;
• Ignite Sustainable Growth: Driving long-term consistent expansion of the business through a multi-prong strategy; and,
• Drive Long-Term Stakeholder Value: Guiding the sustainability program and balancing the needs of all stakeholders.

The Owens & Minor leadership team will provide long-range financial targets that align with the Company's strategic initiatives, capital deployment approach, and commitment to driving shareholder value that will support the aforementioned financial targets.

Although the Company does provide guidance for adjusted net income per share and adjusted EBITDA (which are non-GAAP financial measures), it is not able to forecast the most directly comparable measures calculated and presented in accordance with GAAP without unreasonable effort. Certain elements of the composition of the GAAP amounts are not predictable, making it impracticable for the Company to forecast. Such elements include, but are not limited to, restructuring and acquisition charges. As a result, no GAAP guidance or reconciliation of the Company’s adjusted net income per share guidance or adjusted EBITDA guidance is provided. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a potentially significant impact on its future GAAP financial results. The outlook in this press release is based on certain assumptions that are subject to the risk factors discussed in the Company’s filings with the Securities and Exchange Commission (“SEC”).

Webcast Information

The Company will host its Investor Day from 10:00 a.m. EDT to 1:00 p.m. EDT today, May 26, via live webcast. Investors and analysts will have the opportunity to participate in the live Q&A session with the leadership team. Participants are advised to register in advance to access the live webcast at https://owens-minor-investorday.com/.

A replay of the webcast will remain available on the Investor Relations section of the Company’s website following the event. For questions, please contact Investor.Relations@owens-minor.com.

Safe Harbor

This presentation is intended to be disclosure through methods reasonably designed to provide broad, non-exclusionary distribution to the public in compliance with the SEC's Fair Disclosure Regulation. This presentation contains certain ''forward-looking'' statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Refor

FAQ

What is Owens & Minor's (OMI) adjusted earnings per share target for 2026?

Owens & Minor aims for adjusted earnings per share exceeding $6.00 by 2026, a significant increase from 2022 guidance.

When is the Owens & Minor Investor Day meeting?

Owens & Minor's Investor Day is scheduled for today, May 26, from 10:00 a.m. to 1:00 p.m. EDT.

What are the strategic priorities discussed by Owens & Minor's leadership?

The strategic priorities include leveraging core business improvements, utilizing financial strength, driving sustainable growth, and enhancing long-term stakeholder value.

Why can't Owens & Minor provide GAAP financial forecasts?

Owens & Minor cannot provide GAAP forecasts due to the impracticality of predicting certain elements, including restructuring and acquisition charges.

How has Owens & Minor performed since the pandemic?

Owens & Minor reports a performance that allows for 2022 guidance about six times higher than its adjusted earnings in 2019.