Owens & Minor Q4 Results Top Estimates; Reaffirms FY22 Outlook - Quick Facts

Hospital supplier Owens & Minor, Inc. (OMI) on Wednesday reported that net income for the fourth quarter declined to $41.98 million or $0.55 per share from $50.74 million or $0.72 per share in the prior-year quarter.

Excluding items, adjusted earnings from continuing operations for the quarter were $0.81 per share, compared to $1.14 per share in the year-ago quarter.

Net revenue for the quarter grew to $2.47 billion from $2.36 billion in the same quarter last year.

On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share on revenues of $2.43 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, Owens & Minor continues to project adjusted net income in the range of $3.00 to $3.50 per share on revenues between $9.2 billion and $9.6 billion. The Street is looking for earnings of $3.35 per share on revenues of $9.78 billion for the year.

The Company said its outlook reflects continued reinvestment across its business while enhancing operating efficiencies through the continued deployment of its O&M Business System. The Company believes these investments have created a solid foundation for continued strong performance in 2022.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Communications Commission or FCC has granted SpaceX Services, Inc. authorization to use its Starlink satellite internet system on vehicles in motion. SpaceX, owned by Elon Musk, is allowed to operate consumer and enterprise Ku-band Earth Stations in Motion or ESIM using frequencies allocated to the fixed satellite service. The approval would help the company to expand its services to Loud Muscle Science, LLC is recalling certain Launch Sequence products in the United States and Canada citing the presence of undeclared Tadalafil, the U.S. Food and Drug Administration said. These tainted Launch Sequence Capsule products are marketed as dietary supplements for male sexual enhancement. The U.S. Food and Drug Administration announced the intended availability of around 17 million bottles equivalent of general infant formula to be imported from New Zealand and Ireland. Under the FDA's enforcement discretion to source more infant formula to the U.S., French food company Danone SA will send 555,000 cans Aptamil Gold Plus from New Zealand.
Follow RTT