Ownes & Minor (NYSE: OMI) reported Q1 EPS of $1.57, $0.58 better than the analyst estimate of $0.99. Revenue for the quarter came in at $2.33 billion versus the consensus estimate of $2.37 billion.

• Q1 year-over-year revenue growth of 10%
• Record Q1 GAAP EPS of $0.98 and Adjusted EPS of $1.57
• Raises 2021 Adjusted Net Income per share guidance to $3.75 - $4.25

“We're pleased to deliver another quarter of excellent growth on the top and bottom line as we continue to execute on the Owens & Minor business blueprint. Our first quarter results reflect strong operational execution across the company, powered by continued strength in global products and favorable market dynamics including an uptick in elective procedures in March,” said Edward A. Pesicka, President & Chief Executive Officer of Owens & Minor. “We also recapitalized our debt structure, thereby improving our strategic and operational flexibility.”

Pesicka added, “We have raised our full-year guidance range for adjusted net income to $3.75 to $4.25 per share. The increased guidance is in light of the strong first quarter performance, our favorable outlook around elective procedures, and improved line of sight toward PPE demand into the third quarter.”

GUIDANCE:

Ownes & Minor sees FY2021 EPS of $3.75-$4.25, versus the consensus of $3.31.

The Company expects adjusted net income for 2021 to be in a range of $3.75 to $4.25 per share and Adjusted EBITDA in the range of $450 million to $500 million, based on the key assumptions below:

• Continued favorable outlook around elective procedures for the remainder of the year
• Improved line of sight for PPE sales into the third quarter
• Reduction in interest expense as a result of recapitalized debt structure with lower base rates

For earnings history and earnings-related data on Ownes & Minor (OMI) click here.