Owens & Minor (NYSE:OMI) today posted fourth-quarter results that beat the overall consensus on Wall Street.
The Richmond, Virginia-based orthopedic device company reported profits of $41.97 million, or 55¢ per share, on sales of $2.5 billion for the three months ended Dec. 31, 2021, for a bottom-line loss of -17.3% on sales growth of 4.46% compared with Q4 2020.
Adjusted to exclude one-time items, earnings per share were 81¢, 10¢ ahead of The Street, where analysts were looking for sales of $2.43 billion.
“I’m extremely proud of our strong finish to a record year and even more excited about our future. We delivered on our commitments to all stakeholders and took major steps to help ensure the future growth of Owens & Minor,” CEO Edward Pesicka said in a news release.
“In an ever-changing healthcare environment it is the strength of our business model that resonates well with our customers. Our model is focused on our Americas-owned manufacturing facilities, our flexibility and scalability of our healthcare services, and the strength of our Patient Direct business. Our performance in 2021 is an example of our execution both financially and strategically towards our long-term goals.”
Owens & Minor is expecting revenue for fiscal year 2022 to be in the range of $9.2 billion to $9.6 billion as it expects elective procedures to return to pre-pandemic levels.
Shares in OMI were up 9.92% to $40.10 apiece at market open.