Owens & Minor Q3 Earnings Dip, But Above View; Narrows EPS Outlook Better Than Estimates

(RTTNews) - Owens & Minor, Inc. (OMI) on Wednesday reported lower earnings in the third quarter. However, the company's adjusted earnings beat the consensus view. It also updated the annual EPS outlook, better than estimates.

Net earnings in the third quarter declined to $44.13 million or $0.58 per share from $46.08 million or $0.76 per share in the same quarter a year ago.

Excluding items, earnings were $56.5 million or $0.74 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.55 per share.

Revenue for the quarter, however, increased to $2.502 billion from $2.188 billion last year. This came in better than the consensus estimate of $2.46 billion.

Looking forward, the company has narrowed its full-year adjusted EPS to the range of $3.90-$4.10 from $3.75-$4.25. Analysts on average expect earnings of $3.89 per share for the period.

The company also reaffirmed its previously announced 2022 guidance.