Owens Minor Inc (OMI) 10-Q Quarterly Report May 2022

"The first quarter of 2022 marked an important milestone - we completed the largest acquisition in the Company's history. With the acquisition of Apria, we have strengthened our position in the higher-growth direct-to-patient home market, enhancing our ability to serve patients through the hospital and into the home. I am excited to welcome the Apria team to Owens & Minor," said Edward A. Pesicka, President & Chief Executive Officer.

"I am also very pleased to report another strong quarter, as we saw the momentum from the record setting 2021 carry into the start of the year, largely as we had expected," Pesicka added. "The team has done a great job executing our strategy and managing through a number of macro-economic headwinds, including inflation, over the last several quarters. We will continue to use the Owens & Minor business system and our differentiated model to minimize the impact of these headwinds, deliver another strong year, and remain on-track to achieve our long-term objectives," Pesicka concluded.


Financial Summary (1)
($ in millions, except per share data)	1Q22	1Q21

Revenue	$2,407	$2,327

Operating income, GAAP	$61.1	$146.7
Adj. Operating Income, Non-GAAP	$104.9	$162.7

Net income, GAAP	$39.3	$69.6
Adj. Net Income, Non-GAAP	$72.8	$111.5

Adj. EBITDA, Non-GAAP	$118.5	$175.6

Net income per common share, GAAP	$0.52	$0.98
Adj. Net Income per share, Non-GAAP(2)	$0.96	$1.57

(1) 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.

(2) Adjusted Net Income per share, Non-GAAP for Q1 2022 was unfavorably impacted as compared to prior year by foreign currency translation in the amount of $0.03.

The following information was filed by Owens Minor Inc (OMI) on Tuesday, May 3, 2022 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.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/75252/000007525222000030/omi-20220331.htm

View differences made from one quarter to another to evaluate Owens Minor Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Owens Minor Inc.

Continue

Assess how Owens Minor Inc's management team is paid from their Annual Proxy

Owens Minor Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

M & A

Other

Filter Subcategory:

All

Debt

Expense

Product

Geography

Income

Other

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

Financial - Debt Highlight
We believe available financing sources, including cash generated by operating activities and borrowings under the Revolving Credit Agreement and Receivables Financing Agreement, will be sufficient to fund our working capital needs, capital expenditures, long-term strategic growth, payments under long-term debt and lease arrangements, debt repurchases and other cash requirements.

Financial - Expense Highlight
Exit and realignment charges were $6.0 million for the three months ended March 31, 2021, which consisted primarily of an increase in reserves associated with certain retained assets of Fusion5, IT restructuring charges and other costs related to the reorganization of the U.S. commercial, operations and executive teams.
Financial - Expense Highlight
Shipping and handling costs are primarily included in DS&A expenses and include costs to store, move, and prepare products for shipment, 22 Table of Contents as well as costs to deliver products to customers.
Revenue - Product Highlight
The increase in net revenue in our Patient Direct segment for the three months ended March 31, 2022 was driven by continued strong performance in our Byram business and the acquisition of Apria on March 29, 2022.
Revenue - Geography Highlight
Cash used for investing activities in the first three months of 2021 included capital expenditures of $6.6 million for our strategic and operational efficiency initiatives associated with property and equipment, investments for increased manufacturing capacity in the Americas, and capitalized software.
Other - Other
Although we believe our expectations...Read more
Revenue - Product
Although we have experienced growth...Read more
Financial - Expense
Overall DS&A expenses were affected...Read more
M & A - Other
20 Table of Contents On...Read more
Other - Other
26 Table of Contents Recent...Read more
Other - Other
At December 31, 2021, we...Read more
Other - Other
We also had proceeds from...Read more
Financial - Income
The change in other operating...Read more
Financial - Debt
The interest rate on the...Read more
Other - Other
We estimate a hypothetical increase...Read more
Revenue - Geography
Foreign currency translation had an...Read more
Revenue - Geography
Foreign currency translation had an...Read more
Other - Other
Apria is a leading provider...Read more
Revenue - Product
We monitor operating working capital...Read more
Financial - Expense
This Recall may cause us...Read more
Financial - Expense
DS&A expenses also included an...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Owens Minor Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.6: Material Contract

Exhibit 10.7: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 22.2: Published Report Regarding Matters Submitted To Vote Of Security Holders

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: OMI
CIK: 75252
Form Type: 10-Q Quarterly Report
Accession Number: 0000075252-22-000030
Submitted to the SEC: Tue May 03 2022 5:37:34 PM EST
Accepted by the SEC: Wed May 04 2022
Period: Thursday, March 31, 2022
Industry: Wholesale Medical Dental And Hospital Equipment And Supplies