Owens and Minor (OMI) surges on anticipated earnings

Shares of Owens and Minor (OMI) is surging on anticipated earnings report. Wall Street brokerages forecast that Owens & Minor, Inc. (NYSE:OMI) will report earnings of $0.84 per share for the current fiscal quarter.

Analysts expect that Owens & Minor will report full-year earnings of $3.55 per share for the current financial year, with EPS estimates ranging from $3.27 to $4.08. For the next year, analysts anticipate that the company will report earnings of $3.46 per share, with EPS estimates ranging from $3.10 to $3.85.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be paid a $0.0025 dividend. The ex-dividend date is Monday, June 14th. This is an increase from Owens & Minor’s previous quarterly dividend of $0.00. This represents a $0.01 annualized dividend and a yield of 0.03%. Owens & Minor’s payout ratio is 0.44%.

Company announces investor day conference

OMI announced that at a virtual meeting with the investment community to be held later today, members of its leadership team will discuss the Company’s future growth strategy and key long-term financial targets.

“I’m proud of the exceptional performance that the team has delivered since I joined. Our performance has allowed us to provide 2022 guidance that is about 6 times higher than 2019 adjusted earnings, and puts us in a much stronger position than we were pre-pandemic. Our disciplined approach to investing has driven fundamental change and we believe this has positioned Owens & Minor for long-term success, allowing us to target adjusted earnings per share in excess of $6.00 in 2026, doubling our earnings guidance from 2022,” said Edward A. Pesicka, President & Chief Executive Officer of Owens & Minor.

“Our laser-focused execution firmly repositions us and provides numerous levers to drive future growth and value, with investments that are already underway,” added Pesicka.

At the meeting, members of the Company’s leadership team will provide their perspective on future business trends and highlight the strategic priorities that will drive long-term growth, including:

  • Leverage the Foundation: Harnessing the multi-year rebuild of core business discipline, culture and processes;
  • Utilize Financial Strength: Continuing the momentum of deleveraging and utilizing balance sheet strength to drive growth;
  • Ignite Sustainable Growth: Driving long-term consistent expansion of the business through a multi-prong strategy; and,
  • Drive Long-Term Stakeholder Value: Guiding the sustainability program and balancing the needs of all stakeholders.

The Owens & Minor leadership team will provide long-range financial targets that align with the Company’s strategic initiatives, capital deployment approach, and commitment to driving shareholder value that will support the aforementioned financial targets.