Owens & Minor Rallies 34% On Increased Annual Outlook

Shares of healthcare solutions provider Owens & Minor, Inc. (OMI) are rising more than 34% Friday morning after the company raised its full-year outlook.

Owens & Minor now expects 2023 revenue in the range of $10.2 billion – $10.6 billion, up from the previous guidance of $10.1 billion – $10.5 billion.

Adjusted EPS for 2023 is expected to be in a range of $1.30 to $1.65, compared with the prior guidance of $1.15 – $1.65.

For the first quarter, the company reported a loss of $24.4 million or $0.32 per share as compared with a profit of $39.3 million or $0.52 per share in the same quarter a year ago.

Excluding one-time items, Owens & Minor posted of $3.6 million or $0.05 per share

Revenue for the quarter increased to $2.52 billion, from $2.41 billion in the prior-year period.

OMI, currently at $18.25, has been trading in the range of $11.79-$38.25 in the last 1 year.

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