Owens & Minor: 2Q Earnings Snapshot
Aug. 07, 2018
MECHANICSVILLE, Va. (AP) _ Owens & Minor Inc. (OMI) on Tuesday reported a second-quarter loss of $182.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Mechanicsville, Virginia-based company said it had a loss of $3.07. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, came to 32 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The medical supply distributor posted revenue of $2.46 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $2.45 billion.
Owens & Minor expects full-year earnings in the range of $1.40 to $1.50 per share.
Owens & Minor shares have fallen 1 percent since the beginning of the year. The stock has fallen 34 percent in the last 12 months.