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RICHMOND, Va. -On Friday, Owens & Minor Inc . (NYSE:OMI) reported fourth-quarter earnings that topped analyst estimates, while revenue fell slightly short. The healthcare solutions company also provided an optimistic outlook for 2025.
The company’s shares were up 3.63% in premarket trading.
Owens & Minor posted adjusted earnings per share of $0.55 for Q4, beating the consensus estimate of $0.54. Revenue came in at $2.69 billion, just below expectations of $2.73 billion but up 1.5% year-over-year.
For the full year 2024, the company reported revenue of $10.70 billion, a 3.6% increase from $10.33 billion in 2023. However, Owens & Minor swung to a net loss of $362.7 million in 2024, compared to a net loss of $41.3 million the previous year, primarily due to a $307 million goodwill impairment charge.
Looking ahead, Owens & Minor provided upbeat guidance for fiscal 2025. The company expects adjusted earnings per share between $1.60 and $1.85, with the midpoint above the analyst consensus of $1.79. Revenue is projected to be in the range of $10.85 billion to $11.15 billion.
"We are pleased with the progress that we have made against the strategy as outlined at our Investor Day in December 2023," said Edward A. Pesicka, President & CEO of Owens & Minor. He added that the company remains "focused on delivering a strong 2025" and is confident in achieving double-digit adjusted EBITDA growth while improving cash flow.
The company also announced it has been engaged in "robust discussions" regarding the potential sale of its Products & Healthcare Services (NASDAQ:HCSG) segment, as it looks to focus on its higher-growth Patient Direct business. Additionally, Owens & Minor’s Board of Directors authorized a new $100 million share repurchase program.
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