Owens Minor Inc (OMI) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

SEC Filings

Owens Minor Inc

CIK: 75252 Ticker: OMI

August 4, 2020

Owens & Minor Reports 2nd Quarter Financial Results
Reports improved results for the 3rd consecutive quarter
Doubles full year adjusted EPS guidance to $1.00 to $1.20
Reconfirms expectation of double digit adjusted EPS growth in 2021

RICHMOND, VA – August 4, 2020 – Owens & Minor, Inc. (NYSE-OMI) today reported financial results for the second quarter of 2020, as summarized in the table below.

“I am tremendously proud of our continued focus and intensity, resulting in improved financial performance and further strengthening our foundation for long-term profitable growth.  The exceptional dedication of our teammates was demonstrated by their response to unprecedented demand for our products and flexibility in addressing the volatility of elective procedures. The way we operated is consistent with our IDEAL values and our Mission to ‘Empower our Customers to Advance Healthcare,’ said Edward A. Pesicka, President & Chief Executive Officer of Owens & Minor.  “During this quarter we continued to achieve operating efficiencies and productivity improvements while expanding our Americas based manufacturing capacity, which we believe positions Owens & Minor to increase our earnings expectations for the remainder of the year. These operational improvements allow us to reconfirm double-digit adjusted EPS growth guidance for 2021, above the revised guidance for 2020. Finally, we successfully closed the Movianto sale in June, delivering on what we said we would do, and now we are better positioned to focus on and invest in our strategic pillars – Distribution, Products and Services.”

Financial Summary1
($ in millions, except per share data)2Q202Q1920202019
Operating Income, GAAP2
Adj. Operating Income, Non-GAAP2
Income (Loss) from continuing operations, GAAP2
Adj. Net Income, Non-GAAP2
Income (Loss) from continuing operations per share, GAAP2
Adj. Net Income per share, Non-GAAP2
1. Adjusted net income and Adjusted net income per share relate to continuing operations.
2. Reconciliations of the differences between the non-GAAP financial measures presented in this release and their most
    directly comparable GAAP financial measures are included in the tables below.

The following information was filed by Owens Minor Inc (OMI) on Tuesday, August 4, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Owens Minor Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
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  • Peers / Competitors


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Inside Owens Minor Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Accumulated Other Comprehensive Loss
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Comprehensive Loss (Parenthetical)
Consolidated Statements Of Operations
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Additional Information (Details)
Accumulated Other Comprehensive Loss - Changes In Accumulated Loss By Component (Details)
Debt - (Tables)
Debt - Additional Information (Details)
Debt - Schedule Of Debt (Details)
Derivatives (Tables)
Derivatives - Narrative (Details)
Derivatives - Summary Of The Effect Of Cash Flow Hedge (Details)
Derivatives - Summary Of The Terms And Fair Value Of Our Outstanding Derivative Financial Instruments (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Schedule Of Cash Flow Information For Discontinued Operations (Details)
Discontinued Operations - Summary Of Discontinued Operations On The Balance Sheet (Details)
Discontinued Operations - Summary Of Financial Results Of Discontinued Operations (Details)
Exit And Realignment Costs
Exit And Realignment Costs (Tables)
Exit And Realignment Costs - Accrual For Exit And Realignment Costs (Details)
Exit And Realignment Costs - Additional Information (Details)
Fair Value
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Changes In Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Net Loss Per Common Share
Net Loss Per Common Share (Tables)
Net Loss Per Common Share - Summary Of Calculation Of Net Loss Per Common Share (Details)
Recent Accounting Pronouncements
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Components Of Net Periodic Benefit Cost (Details)
Segment Information
Segment Information (Tables)
Segment Information - Consolidated Total Assets (Details)
Segment Information - Financial Information By Segment (Details)
Segment Information - Net Revenue By Geographic Area (Details)
Shareholders' Equity
Shareholders' Equity - Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Schedule Of Cash, Cash Equivalents And Restricted Cash (Details)
Ticker: OMI
CIK: 75252
Form Type: 10-Q Quarterly Report
Accession Number: 0000075252-20-000103
Submitted to the SEC: Tue Aug 04 2020 5:33:13 PM EST
Accepted by the SEC: Wed Aug 05 2020
Period: Tuesday, June 30, 2020
Industry: Wholesale Medical Dental And Hospital Equipment And Supplies

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