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Tuesday, January 31, 2023

Owens & Minor (NYSE: OMI) Is Skyrocketing Today. Here’s Why

Owens & Minor, Inc. (NYSE: OMI) shares skyrocketing during the trading session of Wednesday. The firm shares up 34.45% with a heavy volume of 8.11 million. The strong performance of the firm has demonstrated the positive reaction of its investors after it has shared the positive Q4 results.

It has disclosed that in Q4 it has generated a revenue of $2.36 which represents an increase of 8% YOY. This groundbreaking result has surpassed the anticipations of investors who were hoping for revenue of $2.16 billion. In Q4, its GAAP EPS stood at $0.72 and Adjusted EPS stood at $1.14 demonstrating an increase of nearly 400%.

Furthermore, the total debt of the firm decreased by $303 million the Q4 and for full-year debt dropped to $534 million. It has earned an operating cash flow of $71 million. The firm has disclosed the other positive financial result it has also achieved other milestones such as firm has provided 12 billion units of PPE to healthcare workers.

Moreover, it has also collaborated with several state and federal agencies to stop the spread of COVID-19. In the Q4, the firm has also divested its European logistic business, Movianto and the firm has also executed the $200million equity offering.

OMI has also provided the financial outlook for 2021 and disclosed that it is projecting the adjusted net income for 2021 to be within the range of $3.00 to $3.50 per share which showed the increase within a range of 33% to 55% over 2020 adjusted net income per share.

Owens & Minor has also shared another exciting news with its investors. It has revealed that the two new members also joined the Board of the firm. These joining created on Owens & Minor’s long-term dedication to business perfection and supplying its customers.

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