Owens & Minor, Inc. - OMI STOCK NEWS

The Owens & Minor Foundation has partnered with Ronald McDonald House Charities (RMHC) as its first flagship charity, contributing $500,000 to support health initiatives for children and families. This collaboration aims at enhancing community health and well-being through direct programming. A national engagement campaign will also offer Owens & Minor employees numerous volunteering opportunities across eight U.S. locations. The partnership signifies a formal commitment to positive community impact, providing over 5,000 overnight stays and supporting RMHC's global mission.

Owens & Minor, Inc. (NYSE-OMI) reported Q3 2022 results with revenue of $2.5 billion, slightly down from $2.5 billion in Q3 2021. Patient Direct revenue surged by 142% to $594 million, driven by the Apria acquisition. Adjusted EBITDA rose to $127 million, reflecting a 140 basis point margin increase. The company generated $69 million in cash from operations during the quarter. Looking forward, 2022 revenue is forecasted between $9.8 billion and $10.0 billion, with adjusted EPS projected between $2.50 and $2.60. Operational challenges are noted as acute care customers delay reorders.

The Owens & Minor Foundation has announced a $100,000 donation to the National Association of Free and Charitable Clinics (NAFC) to support programs enhancing health equity. This contribution strengthens the foundation's commitment to fostering healthier communities and aligns with NAFC's mission to provide affordable healthcare access to the medically underserved. The donation follows an earlier contribution of $10,000 to assist clinics in Florida affected by Hurricane Ian, reflecting the foundation's ongoing efforts in community support.

Owens & Minor (NYSE:OMI) announced executive changes, with Andrew G. Long appointed as EVP and CEO of the Products & Healthcare Services segment, succeeding Jeffrey T. Jochims. Alexander J. Bruni will take over as EVP and CFO. The company provided preliminary third-quarter financial results, estimating GAAP net income per share between $0.15 and $0.17, and adjusted net income per share between $0.39 and $0.41. Additionally, 2022 guidance was updated, projecting adjusted net income per share to range from $2.50 to $2.60, down from $2.85 to $3.15.

Owens & Minor has received two 2022 Supplier Awards from Vizient, recognizing its commitment to service excellence. The Medical/Surgical Supplier Excellence Award and the Achieve Committed Program Excellence Award for the HALYARD product brand were announced at the Vizient Connections Summit held on September 19-22. These awards highlight Owens & Minor’s performance in cost management and supply chain efficiency, reinforcing their value in healthcare support.

Owens & Minor (NYSE: OMI) announced its participation in the 2022 Baird Global Healthcare Conference on Tuesday, September 13, at 12:15 p.m. EDT. Investors can view the live webcast by visiting the investor relations page on the Owens & Minor website at least ten minutes prior to the presentation. A replay will also be available afterwards. Established in 1882 and headquartered in Richmond, Va., Owens & Minor is a Fortune 500 healthcare solutions company focused on product manufacturing, delivery, and perioperative services, employing over 20,000 team members globally.

Owens & Minor (NYSE: OMI) and Allina Health announced a renewed partnership focused on creating an integrated service model aimed at enhancing supply chain resiliency. This collaboration, evolving from a 20-year relationship, will establish a centralized service center to improve inventory management and communication across Allina Health's network, which includes over 6,000 physicians. The initiative aims to lower inventory costs while increasing transparency and efficiency, ensuring clinical staff receive necessary products promptly.

Owens & Minor reported Q2 2022 results with revenue of $2.5 billion and adjusted EBITDA of $156 million, reflecting a 145% increase in Patient Direct revenue. Despite success in its business segments, the company revised its full-year outlook with adjusted EPS projected between $2.85 and $3.15 due to weak hospital volumes and economic challenges. Key highlights include strong performance from the Byram business and successful integration of Apria, though macroeconomic headwinds and lower elective procedure volumes raised concerns about future growth.

Owens & Minor (NYSE:OMI) announced that David R. Myers, Vice President of National Accounts, was inducted into the Bellwether League Foundation’s Hall of Fame for his contributions to the healthcare supply chain industry. Recognized for his customer-first philosophy and innovative supply strategies, Myers previously served as Chief Procurement Officer, enhancing partnerships during the pandemic. The induction ceremony will take place on October 3, 2022, in Milwaukee, joining a prestigious group of past honorees from Owens & Minor.