Owens & Minor, Inc. - OMI STOCK NEWS

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.

Owens & Minor reported strong first quarter 2021 financial results, with revenue rising to $2.327 billion from $2.123 billion in 2020. Adjusted net income surged to $111.5 million, translating to $1.57 per share, compared to $2.4 million or $0.04 per share last year. The company has raised its full-year adjusted net income guidance to $3.75 - $4.25 per share due to robust operational execution and favorable market conditions, especially in elective procedures. Additionally, Owens & Minor successfully recapitalized its debt, enhancing financial flexibility.

Owens & Minor (NYSE: OMI) will release its Q1 2021 financial results on May 5, 2021, before NYSE trading begins. The company will host a conference call at 8:00 a.m. EDT to discuss these results, accessible at 866-393-1604. An international dial-in number is also available at 1-224-357-2191, with a replay option for one week. Owens & Minor, a healthcare solutions provider founded in 1882, serves over 4,000 customers globally and aims to empower healthcare advancements.

Owens & Minor, Inc. (NYSE: OMI) has priced its private offering of $500 million senior notes at 4.500% interest due 2029. The offering is set to close on March 10, 2021, pending market conditions. Proceeds will be used to repay outstanding debt from its Term B Loan and Existing Revolving Credit Facility, alongside covering related fees and costs. The notes are offered only to qualified institutional buyers and are not registered under the Securities Act.

Owens & Minor, Inc. (NYSE: OMI) announced a private offering of $500 million in senior notes due 2029, pending market conditions. The proceeds will be utilized to repay outstanding debt under its Term B Loan and existing revolving credit facility, as well as for general corporate purposes. The offering is limited to qualified institutional buyers and non-U.S. persons. The Notes are not registered under the Securities Act and will be offered in compliance with applicable regulations. This offering aims to strengthen the Company's financial position.

Owens & Minor, Inc. (NYSE: OMI) has elected Aster Angagaw and Stephen W. Klemash to its Board of Directors as part of a multi-year succession planning initiative. Angagaw, with extensive experience in transformational growth and leadership roles in healthcare, was last the President of ServiceMaster Brands. Klemash brings significant expertise in finance and governance from Ernst & Young LLP. Their election aims to enhance the company's strategic direction amid evolving industry demands, supporting Owens & Minor's mission of empowering customers in healthcare.

Owens & Minor reported strong financial results for Q4 and FY 2020, with revenue reaching $2.36 billion in Q4 and $8.48 billion for the year. Notably, adjusted net income per share surged 396% year-over-year. The company successfully reduced total debt by $303 million in Q4 and $534 million for the year, which led to a 23% reduction in interest expenses.

Looking forward, OMI anticipates adjusted net income per share for 2021 between $3.00 and $3.50, indicating growth of 33% to 55% over 2020. The company also declared a dividend of $0.0025 per share for Q1 2021.

Owens & Minor (NYSE: OMI) is set to release its financial results for Q4 and the full year of 2020 on February 24, 2021, before the NYSE opens. A conference call will follow at 8:30 a.m. ET for investors to discuss the results. Participants can access the call via phone or through a webcast available on their Investor Relations website. With over 15,000 employees, Owens & Minor is a leading global healthcare solutions provider focused on delivering value across the healthcare industry.

Owens & Minor (OMI) welcomes President Biden's National Strategy for COVID-19 Response. CEO Edward Pesicka emphasizes the importance of using American-made PPE during the pandemic. In 2020, the company achieved over 12 billion PPE units delivered in the U.S., with significant increases in production: 1000% for N95s, nearly 100% for surgical masks, over 600% for face shields, and 300% for isolation gowns. Owens & Minor has made substantial investments in manufacturing efficiency and was selected to produce 600 million N95 respirators for the U.S. market, showcasing its capabilities and commitment to pandemic response.