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Dec 31, 2021
Owens & Minor Q4 2021 Earnings Report
Reported strong Q4 2021 financial results, driven by revenue growth and effective cost management.
Key Takeaways
Owens & Minor reported a 5% increase in revenue for Q4 2021, driven by growth in both the Global Solutions and Global Products segments. The company's adjusted net income was $61 million, reflecting revenue growth and the ability to manage inflationary pressures. The company is reaffirming its 2022 financial guidance and the acquisition of Apria remains on track.
Adjusted Net Income was $61 million, reflecting year-over-year revenue growth and management of inflationary pressures.
Total company fourth quarter revenue grew by approximately 5%.
Global Solutions segment revenue grew to $2.0 billion, a 3% year-over-year increase.
Global Products segment revenue grew to $629 million, a 9% year-over-year increase.
Owens & Minor
Owens & Minor
Forward Guidance
The Company’s outlook for 2022 reflects continued reinvestment across our business while enhancing operating efficiencies through the continued deployment of our O&M Business System.
Positive Outlook
- Revenue for 2022 to be in a range of $9.2 billion to $9.6 billion
- Year-over-year reduction in revenue in the range of $(400-450) million as glove costs continue to normalize
- Elective procedures at pre-pandemic levels
- Expecting PPE volumes to ease throughout the year
- New glove manufacturing capacity expansion go-live in late Q1’22
Challenges Ahead
- Adjusted net income for 2022 to be in a range of $3.00 to $3.50 per share
- Assumes FX rates as of December 31, 2021
- Expecting near-term unfavorable commodity prices
- Adjusted EBITDA for 2022 to be in a range of $400 million to $450 million
- Excluding synergies, we continue to expect Apria to generate annualized revenue of at least $1.2 billion