Shares of Owens & Minor, Inc. (OMI) are up more than 2% in pre-market trade on Wednesday after the company announced its long-term earnings and revenue targets.
The healthcare solutions provider sees revenue of more than $12 billion by 2026.
It also expects to earn profit of more than $6 per share and EBITDA of more than $650 million, on an adjusted basis, by 2026.
For the year 2022, the company sees adjusted earnings per share to be in the range of $3.00 – $3.50 and EBITDA of between $400 million and 450 million.
Analysts polled by Thomson Reuters expect the company to earn $3.27 per share in 2022.
Owens & Minor will discuss its long-term financial goals during a virtual meeting with the investment community to be held later today.
“Our performance has allowed us to provide 2022 guidance that is about 6 times higher than 2019 adjusted earnings, and puts us in a much stronger position than we were pre-pandemic.Our disciplined approach to investing has driven fundamental change and we believe this has positioned Owens & Minor for long-term success, allowing us to target adjusted earnings per share in excess of $6.00 in 2026, doubling our earnings guidance from 2022,” said Edward A. Pesicka, President & Chief Executive Officer of Owens & Minor.
OMI closed Tuesday’s regular trading at $32.40, up 1.95%. The stock is currently at $33.30.
Source: Read Full Article