Today, Owens & Minor, Inc. (NYSE: OMI) announced its financial results for the fourth quarter and year ended December 31, 2019 and outperformed the earnings guidance.
The Company declared a net loss of USD 39 million for the fourth quarter of 2019, or a net loss per share of USD 0.65, compared to a net loss of USD 262 million, or USD 4.37 per share in the fourth quarter of 2018. Adjusted net income per share was in the fourth quarter of 2019 USD 0.26, compared to USD 0.09 in the same period of the prior year.
For the full year of 2019, the Richmond-based Company reported a net loss of USD 62.4 million, or USD 1.03 per share, compared to a net loss of USD 437, or USD 7.28 per share, for the full year of 2018.
Owens & Minor expects in 2020 to generate double-digit earnings growth and the adjusted net income for the full year to be in the range of USD 0.50 to USD 0.60 per share.
The Company’s guidance echos reinvestment in its core businesses, lost income due to the pending divestiture of Movianto, the impact of recent financing activity, as well as customer non-renewals in the first three quarters of 2019.
Edward A. Pesicka, President and Chief Executive Officer of Owens & Minor said:
“I am very pleased that we were able to sustain sequential improvement in adjusted operating income and adjusted earnings per share while also continuing to generate positive cash flow and reduce debt. Looking back at 2019, I am proud that we changed our culture, significantly improved customer service, built a great leadership team, and drove operating efficiencies, enabling us to establish a strong foundation for the future.”
Headquartered in Richmond, Virginia, Owens & Minor is a global healthcare solutions company with approximately 17,000 employees in over 90 countries.
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