The Company’s outlook for 2023 is summarized below: Owens & Minor Foundation and Ronald McDonald House Charities® partner to help build healthier communities Owens & Minor’s Supplier Diversity Award celebrated its 10 th consecutive yearīyram Healthcare was awarded Verywell Health’s “Best Overall Diabetic Supply Company” for the fourth year in a row
OWENS AND MINOR FULL
Generated $325 million of operating cash flow for the full year, up 162% Generated $87 million of operating cash flow in the quarter, up 73% year-over-year and up 27% from Q3 Reduced total debt by $61 million in Q4 and $143 million since funding the Apria acquisition Unfavorable FX impacted Adjusted Operating Income by $3 million in Q4 and $16 million for the full year Unfavorable foreign exchange (FX) impact of $10 millionĪdjusted EBITDA of $117 million for the quarter and $518 million for the full yearįor the fourth quarter on an adjusted basis for the Apria acquisition, Patient Direct adjusted segment operating income increased by 50% year-over-year with margin rate increase of 280 basis points to 10.7% Products & Healthcare Services revenue up 1.6% sequentially from Q3 Patient Direct revenue of $617 million, up 10.3% on an adjusted basis for the Apria acquisition (2) Adjusted Net Income per share, Non-GAAP for Q4 2022 was unfavorably impacted as compared to prior year by foreign currency translation in the amount of $0.03 and, unfavorably impacted by $0.16 for the 2022 full-year period. (1) Reconciliations of the differences between the non-GAAP financial measures presented in this release and their most directly comparable GAAP financial measures are included in the tables below. Network rationalization and operational excellenceĬommercial excellence and product profitability enhancement Operating Model Realignment Program Includes: And building upon his years of successful leadership of our Byram division, Perry Bernocchi will be promoted, effective March 1, 2023, to CEO of the Patient Direct segment and will drive further integration of Byram and Apria to better serve our customers and drive efficiencies,” Pesicka concluded. “Leveraging his experience driving successful large-scale, profit-improvement programs at Apria, Dan Starck will lead the company-wide Operating Model Realignment Program. We believe this program will enhance our strong quality of service to our customers, increase our margins, and allow us to more rapidly reduce debt and reinvest in higher-growth and more profitable opportunities,” Pesicka added. We expect this program to help us quickly and sustainably drive the performance and growth of the company by delivering approximately $30 million of Adjusted Operating Income in 2023, and approximately $200 million by 2025. “We have initiated a company-wide Operating Model Realignment Program with a dedicated team to accelerate profit improvement and reduce costs. Pesicka, President & Chief Executive Officer of Owens & Minor. It is clear that our Company’s cost structure needs to be better aligned with the evolving market,” said Edward A. However, overall fourth-quarter results showed that we need to move quickly to offset volume decline, cost and pricing headwinds, particularly in our global products division.
“Our Patient Direct segment capped a fantastic year with another strong quarter, and I am pleased that our medical distribution division continues to perform well, retaining and winning new business. (NYSE-OMI) today reported financial results for the fourth quarter and the year ended December 31, 2022, as summarized in the table below. RICHMOND, Va.-( BUSINESS WIRE)-Owens & Minor, Inc.
0 kommentar(er)
