Owens & Minor Slashes FY22 Outlook; Stock Down 17%
(RTTNews) - Healthcare solutions company Owens & Minor, Inc. (OMI) on Wednesday preliminary results for the third quarter and slashed its adjusted earnings guidance for the full-year 2022.
For the third quarter, the company expects earnings in a range of $0.15 to $0.17 per share and adjusted earnings in a range of $0.39 - $0.41 per share.
On average, six analysts polled by Thomson Reuters expect the company to report earnings of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2022, Owens & Minor now projects adjusted earnings in a range of $2.50 to $2.60 per share, down from the prior for forecast range of $2.85 to $3.15 per share. The Street is looking for earnings of $2.99 per share for the year.
The company also announced certain changes to its executive leadership team, including the appointment of Andrew Long as EVP, CEO, Products & Healthcare Services segment, replacing Jeffrey Jochims who will be leaving the Company.
Long has served as the Company's EVP and CFO since joining the Company in November 2019. In addition, Alexander Bruni has been promoted to EVP and CFO, replacing Long.
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