Owens & Minor Outlined its New Strategic Plan and Reaffirmed its Financial Outlook for 2017 and 2018 at Annual Investor Meeting
March 16 2017 - 7:25AM
Business Wire
At its annual investor meeting held today in New York, Owens
& Minor, Inc. (NYSE: OMI) outlined its new strategic plan and
reaffirmed the financial guidance it originally provided in
conjunction with the release of its 2016 financial results on
February 14, 2017. At that time, the company provided financial
guidance for diluted earnings on an adjusted basis (Non-GAAP) for
2017 in the range of $1.75 to $1.85 per share, and for 2018 in the
range of $2.05 to $2.20 per share. As the company previously noted,
these guidance ranges reflect ongoing challenges within the
company’s Domestic business, including ongoing margin pressures
resulting from changing market dynamics.
Although the company does provide guidance for adjusted earnings
per share (which is a Non-GAAP financial measure), it is not able
to forecast the most directly comparable measure calculated and
presented in accordance with GAAP. Certain elements of the
composition of the GAAP amounts are not predictable, making it
impractical for the company to forecast. Such elements include, but
are not limited to restructuring and acquisition charges. As a
result, no GAAP guidance is provided.
“I’m confident that our four-part strategy will position us well
for the future and will enable us to achieve sustained profitable
growth,” said P. Cody Phipps, president & chief executive
officer of Owens & Minor. “Our four strategies include building
the most intelligent route to market, expanding along the continuum
of care, becoming the preferred outsourcer for leading
manufacturers, and leveraging our data, analytics, and services.
Our teams are focused, and actions are underway to realize the full
potential of our strategy.”
A webcast of the investor meeting, featuring members of the
Owens & Minor management team, and the related presentation are
available at www.owens-minor.com under the Investor Relations
events section. A discussion of the financial guidance is included
in the management presentation.
Safe Harbor Statement
This release is intended to be disclosure through methods
reasonably designed to provide broad, non-exclusionary distribution
to the public in compliance with the Securities and Exchange
Commission's Fair Disclosure Regulation. This release contains
certain “forward-looking” statements, which are made pursuant to
the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995, including financial guidance for 2017 and 2018.
Forward-looking statements involve known and unknown risks and
uncertainties that may cause our actual results in future periods
to differ materially from those projected or contemplated in the
forward-looking statements. Investors should refer to our
annual report on Form 10-K for the year ended December 31, 2016,
filed with the Securities and Exchange Commission (“SEC”) and
subsequent quarterly reports on Form 10-Q and current reports on
Form 8-K filed with or furnished to the SEC, for a discussion of
certain known risk factors that could cause our actual results to
differ materially from our current estimates. These filings are
available at www.owens-minor.com. Given these risks and
uncertainties, we can give no assurances that any forward-looking
statements will, in fact, transpire and, therefore, caution
investors not to place undue reliance on them. We specifically
disclaim any obligation to update or revise any forward-looking
statements, whether as a result of new information, future
developments or otherwise.
Owens & Minor uses its Web site, www.owens-minor.com, as a
channel of distribution for material company information, including
news releases, investor presentations and financial information.
This information is routinely posted and accessible under the
Investor Relations section.
About Owens & Minor
Owens & Minor, Inc. (NYSE: OMI) is a global healthcare
services company dedicated to Connecting the World of Medical
Products to the Point of CareSM by providing vital supply chain
services to healthcare providers and manufacturers of healthcare
products. Owens & Minor provides logistics services across the
spectrum of medical products from disposable medical supplies to
devices and implants. With logistics platforms strategically
located in the United States and Europe, Owens & Minor serves
markets where three quarters of global healthcare spending occurs.
Owens & Minor’s customers span the healthcare market from
independent hospitals to large integrated healthcare networks, as
well as group purchasing organizations, healthcare products
manufacturers, and the federal government. A FORTUNE 500 company,
Owens & Minor is headquartered in Richmond, Virginia, and has
annualized revenues exceeding $9 billion. For more information
about Owens & Minor, visit owens-minor.com, follow @Owens_Minor
on Twitter, and connect on LinkedIn at
www.linkedin.com/company/owens-&-minor.
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version on businesswire.com: http://www.businesswire.com/news/home/20170316005428/en/
Owens & Minor, Inc.Truitt Allcott, 804-723-7555Director,
Investor & Media Relationstruitt.allcott@owens-minor.comorChuck
Graves, 804-723-7556Director, Finance & Investor
Relationschuck.graves@owens-minor.com
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