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

(RTTNews) - 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.