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Owens Minor Inc (OMI) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

SEC Filings

Owens Minor Inc

CIK: 75252 Ticker: OMI



Owens & Minor Reports Record 4th Quarter and Full Year 2020 Earnings Results
Q4 year-over-year revenue growth of 8%
Q4 GAAP EPS of $0.72* and Adjusted EPS of $1.14* representing growth of nearly 400%
2021 Adjusted Net Income per share expected to be $3.00 - $3.50

RICHMOND, VA – February 24, 2021 – Owens & Minor, Inc. (NYSE-OMI)
today reported financial results for the fourth quarter and the year ended December 31, 2020, as summarized in the table below.

“The monumental effort of the Owens & Minor teammates in 2020 along with their relentless focus on serving our customers has reinforced our position in the healthcare industry as a trusted partner,” said Edward A. Pesicka, President and Chief Executive Officer of Owens & Minor. “I am very proud of how our teammates delivered on our mission of ‘Empowering Our Customers to Advance Healthcare’ and exemplified our IDEAL values in our swift response to the Covid-19 pandemic.”

Pesicka added, “In the midst of the pandemic, we utilized the Owens & Minor disciplined business process to drive productivity and improve our customers’ experience. Specifically, we enhanced our Americas based vertically integrated manufacturing capabilities to address our customers’ current and future needs for our market leading broad-based products and services.”

“We delivered exceptional financial results for the quarter and full year through strong execution,” said Pesicka. “Our productivity gains along with favorable product mix drove our margin improvement and significant earnings growth. During the year we successfully deleveraged our balance sheet while continuing to reinvest in our businesses. We have established a solid foundation for long-term profitable growth and enhanced financial flexibility.”



Financial Summary*
FYEFYE
($ in millions, except per share data)4Q204Q1920202019
Revenue$2,362$2,191$8,480$9,211
Operating Income, GAAP**
$95.6$14.5$204.1$73.2
Adj. Operating Income, Non-GAAP**
$124.9$41.1$283.4$148.7
Income (Loss) from continuing operations, GAAP**
$50.7($5.4)$88.1($22.6)
Adj. Net Income, Non-GAAP**
$79.8$14.0$143.7$37.7
Income (Loss) from continuing operations per share, GAAP**
$0.72($0.09)$1.39($0.37)
Adj. Net Income per share, Non-GAAP**
$1.14$0.23$2.26$0.62
* Adjusted net income and Adjusted net income per share relate to continuing operations.
** 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.
** Full year Adjusted EPS favorably impacted by $0.08 of foreign currency translation compared to prior year

1

The following information was filed by Owens Minor Inc (OMI) on Wednesday, February 24, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Owens Minor Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Operations
Accounts Receivable, Net
Accounts Receivable, Net - Additional Information (Details)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Details)
Accumulated Other Comprehensive Income (Tables)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Debt
Debt (Details)
Debt (Tables)
Debt - Additional Information (Details)
Derivatives
Derivatives (Details)
Derivatives (Tables)
Derivatives - Gain (Loss) Included In Accumulated Other Comprehensive Loss (Details)
Derivatives - Outstanding Hedges (Details)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Discontinued Operations - Assets And Liabilities Of The Discontinued Operations (Details)
Discontinued Operations - Operating And Investing Cash Flow Information For Discontinued Operations (Details)
Discontinued Operations - Summary Of The Financial Results Of Our 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)
Exit And Realignment Costs - Exit And Realignment Charges By Segment (Details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Additional Information (Details)
Goodwill And Intangible Assets, Net - Goodwill Rollforward (Details)
Goodwill And Intangible Assets, Net - Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Income (Loss) Before Income Taxes (Detail)
Income Taxes - Income Tax Provision (Detail)
Income Taxes - Reconciliation Of Changes In Unrecognized Tax Benefits (Detail)
Income Taxes - Reconciliation Of Federal Statutory Rate To Effective Income Tax Rate (Detail)
Income Taxes - Tax Effects On Deferred Tax Assets And Deferred Tax Liabilities (Detail)
Leases
Leases (Tables)
Leases - Components Of Lease Expense (Details)
Leases - Maturities Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Legal Proceedings
Merchandise Inventories
Merchandise Inventories - Additional Information (Details)
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share (Tables)
Net Income (Loss) Per Common Share - Summary Of Calculation Of Net Income Per Share (Detail)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Details)
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Additional Information (Detail)
Retirement Plans - Amounts Recognized As Component Of Accumulated Other Comprehensive Loss, Domestic (Detail)
Retirement Plans - Components Of Net Periodic Benefit Cost For Domestic Retirement Plans (Detail)
Retirement Plans - Domestic Retirement Plan's Financial Status And Amounts Recognized In Consolidated Balance Sheets (Detail)
Retirement Plans - Expected Benefit Payments Required For Domestic Retirement Plan (Detail)
Segment Information
Segment Information (Tables)
Segment Information - Consolidated Total Assets (Details)
Segment Information - Financial Information By Geographical Area (Details)
Segment Information - Financial Information By Segment (Detail)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Activity And Value Of Nonvested Restricted Stock And Performance Share Awards (Details)
Share-Based Compensation - Additional Information (Details)
Shareholders' Equity
Shareholders' Equity - Additional Information (Detail)
Significant Risks And Uncertainties
Significant Risks And Uncertainties - Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)
Ticker: OMI
CIK: 75252
Form Type: 10-K Annual Report
Accession Number: 0000075252-21-000034
Submitted to the SEC: Wed Feb 24 2021 4:54:21 PM EST
Accepted by the SEC: Wed Feb 24 2021
Period: Thursday, December 31, 2020
Industry: Wholesale Medical Dental And Hospital Equipment And Supplies

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