Owens & Minor Q2 Income From Continuing Operations Improves; Beats View

(RTTNews) - Owens & Minor, Inc. (OMI) on Tuesday reported income from continuing operations of $65.9 million or $0.87 per share in the second quarter, higher than $0.2 million in the same quarter a year ago, driven by revenue growth.

Net income in the second quarter of $65.9 million or $0.90 per share compares with net loss of $55.63 million or $0.91 per share last year.

Excluding items, earnings were $80.1 million or $1.06 per share compared with 12.5 million or $0.20 per share last year. On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.97 per share.

Revenue for the quarter jumped to $2.489 billion from $1.808 billion a year ago, helped by growth in both global solutions as well as products revenue. The consensus estimate was for $2.47 billion.

Looking forward, the company expects earnings to be in the range of $3.75 to $4.25 per share in 2021. Analysts expect earnings of $3.97 per share for the period.