Omnicare, Inc. (OCR) Wednesday reported slightly lower profit for the first quarter reflecting reduced revenue for the period. Earnings per share, however, were better than last year on lower share count. Further, adjusted cash earnings per share beat analyst expectations. The firm also backed its previous full-year expectations.
For the quarter the company posted net income of $54.35 million, down marginally from $55.73 million a year earlier. On a per share basis, earnings for the period rose to $0.51 from $0.48 last year.
The number of shares outstanding at the end of the quarter was 107,466 compared to 116,500 at the end of the same quarter last year.
The company posted adjusted cash earnings per share of $0.90 for the period. Eight analysts on average polled by Thomson Reuters estimated earnings per share of $0.87 for the quarter. Analyst estimates typically exclude one-time items.
Commenting on the results, John Workman, Omnicare's Chief Executive Officer said, "As we made further progress toward our goal of achieving sustainable net organic growth within Long-Term Care, we continued to reduce costs, largely through the utilization of low-cost generic alternatives. These cost improvements, coupled with another strong quarterly performance from our Specialty Care Group and the ongoing benefits of our efficient allocation of capital, helped drive our double-digit adjusted cash earnings per diluted share increase."
Revenue for the quarter fell to $1.525 billion form $1.593 billion a year earlier. Analysts were looking for slightly higher revenue of $1.54 billion.
Looking ahead, the firm said it expects adjusted cash earnings per share of $3.47 to $3.57 and revenue of $6.1billion to $6.2 billion for the full-year.
Analysts are currently looking for full-year earnings of $3.52 on revenue of $6.15 billion for the full-year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.