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Owens Minor Inc (OMI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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OMI Quarterly Reports

Owens Minor Inc

CIK: 75252 Ticker: OMI


Owens & Minor Reports First Quarter 2022 Financial Results

Continued revenue growth in both segments, highlighted by 26% growth in Patient Direct
Q1 GAAP EPS of $0.52, Adjusted EPS of $0.96
2022 Adjusted EPS outlook revised upward to a range of $3.05 - $3.55

RICHMOND, VA – May 3, 2022 – Owens & Minor, Inc. (NYSE-OMI)
today reported financial results for the first quarter ended March 31, 2022, as summarized in the table below.

"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)1Q221Q21
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.



1

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.

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

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

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
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 Income
Consolidated Statements Of Operations
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Changes In Accumulated Loss By Component (Details)
Acquisition
Acquisition (Tables)
Acquisition - Estimated Fair Value Of The Assets Acquired And Liabilities (Details)
Acquisition - Narrative (Details)
Acquisition - Pro Forma (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Debt (Details)
Derivatives
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)
Exit And Realignment Costs
Exit And Realignment Costs (Tables)
Exit And Realignment Costs - Accrual For Exit And Realignment Costs (Details)
Exit And Realignment Costs - Exit And Realignment Charges By Segment (Details)
Exit And Realignment Costs - Narrative (Details)
Fair Value
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Changes In Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets Subject To Amortization (Details)
Goodwill And Intangible Assets - Narrative (Details)
Income Taxes
Income Taxes - Narrative (Details)
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)
Net Income Per Common Share
Net Income Per Common Share (Tables)
Net Income Per Common Share - Summary Of Calculation Of Net Income Per Common Share (Details)
Recent Accounting Pronouncements
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Components Of Net Periodic Benefit Cost (Details)
Retirement Plans - Components Of Net Periodic Benefit Cost - Narrative (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: 0000075252-22-000030
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

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