Owens & Minor Reports $296.1 Million Quarterly Loss
The company records $2.7 billion revenue for Q4 ended Dec 31, 2024
Owens & Minor Inc [OMI] reported $296.1 million loss for Q4 ended Dec 31, 2024, after a loss of $18 million profit in the same quarter of the previous year.
The company revealed in its 8-K filing to the SEC dated Feb 28, 2025 that it generated revenue of $2.7 billion for the period, an increase of $39.9 million from the same quarter of the previous year.
Based in Richmond, Virginia, the company reported $3.8 loss per share for the period, compared to $0.23 earnings per share in the same quarter of the previous year.
The revenue of Owens & Minor, with 20,000 employees on the rolls, was 1.5% more than $2.65 billion in the quarter a year ago.
Push for Patient Direct segment
“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 & Chief Executive Officer of Owens & Minor.
"As a reminder, we committed to optimizing our Products & Healthcare Services business, leveraging our leading Patient Direct platform, and building balance sheet flexibility through deleveraging," he stated.
"Within P&HS (Products & Healthcare Services) we continue to see momentum in broadening our product portfolio, developing a streamlined and efficient manufacturing footprint, and enhancing our distribution capabilities."
Pesicka said that within Patient Direct, the company continued to leverage its footprint and broad product offering to support home-based care for millions of patients with chronic conditions. "These capabilities, combined with positive demographic trends and expanding home treatment options, leaves us very bullish on the future of this business. Finally, we repaid $647 million of debt over the last two years which helps provide the financial flexibility to pursue the acquisition of Rotech - which we believe will drive long-term shareholder value.”
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