Owens & Minor Unveils Long-Term Strategy at Investor Day Today
06 12월 2023 - 9:00PM
Business Wire
Outlines new five-year strategic plan intended
to unlock expanded profitability and growth profiles of the
business, targeting 20% compounded earnings growth between 2024 to
2028
Investments and strong cash generation
expectations are anticipated to support multi-faceted growth and a
value-enhancing capital allocation program
Owens & Minor, Inc. (NYSE-OMI) (the “Company”), a global
healthcare solutions company that provides healthcare products for
home-based care, self-manufactured products, proprietary product
portfolio, distribution services and innovative technology, will
outline its strategy for delivering and expanding its profitability
at its 2023 Investor Day event today in Boston. Details about the
event, including instructions for the webcast, are provided
below.
“We are excited to launch our long-term strategy focused on
enhancing both the cash generation and profitability profiles of
our businesses. We plan to leverage and invest in the strong
platform we developed in our Patient Direct segment which will help
us enhance our position among market leaders and capitalize on the
momentum of the home-based care market. We also simultaneously plan
to improve the margin profile of our Products & Healthcare
Services segment,” said Edward A. Pesicka, President & Chief
Executive Officer of Owens & Minor. “Our strategy will be
supported by disciplined capital allocation and strategic
investments that we believe will allow us to enhance our
competitive position across our key markets, expand our
profitability and unlock our growth potential. This sets the stage
for continued growth and value creation for our investors in the
years to come.”
Key Themes to be Discussed Today
- Development of multi-year strategic plan intended to enhance
profitability and drive growth
- Commitment to invest in the parts of the business that provide
the highest returns
- Patient Direct segment expected to continue to outpace the
market and enhance our position in home-based care
- Significant opportunity to further optimize Products &
Healthcare Services segment for an improved margin profile
- Margin expansion and strong cash generation expected to both
strengthen and support a healthy balance sheet moving forward
- Value-added investments and disciplined capital allocation
expected to enhance long-term shareholder returns
Vision 2028 Financial Goals
The Owens & Minor leadership team will provide long-range
financial targets that align with the Company's strategic
initiatives, capital deployment objectives, and commitment to
driving shareholder value. The Company’s 2028 financial targets
include:
- Revenue exceeding $12 billion
- Adjusted EBITDA exceeding $750 million
- Adjusted EPS to exceed $3.50 with a CAGR of more than 20%
- Cumulative free cash flow between 2024-2028 of more than $1.3
billion
Although the Company does provide targets for adjusted EBITDA,
adjusted EPS and free cash flow (which are non-GAAP financial
measures), it is not able to forecast the most directly comparable
measures calculated and presented in accordance with GAAP without
unreasonable effort. Certain elements of the composition of the
GAAP amounts are not predictable, making it impracticable for the
Company to forecast. Such elements include, but are not limited to,
restructuring and acquisition charges, which could have a
significant and unpredictable impact on our GAAP results. As a
result, no GAAP targets or reconciliation of the Company’s adjusted
EBITDA, adjusted EPS or free cash flow targets are provided. The
targets are based on certain assumptions, including those outlined
in the presentation for the 2023 Investor Day being furnished today
with the Securities and Exchange Commission (the “SEC”), and are
subject to the risk factors discussed in the Company’s filings with
the SEC.
Investor Day Webcast Information
Investors and other interested parties can watch the webcast of
the event, which will begin at 8:30 a.m. ET today, on the Company's
investor relations website. The event will be recorded and
available for replay approximately two hours after its
conclusion.
Forward Looking
Statements
This release is intended to be disclosure through methods
reasonably designed to provide broad, non-exclusionary distribution
to the public in compliance with the SEC's Fair Disclosure
Regulation. This release contains certain ''forward-looking''
statements made pursuant to the Safe Harbor provisions of the
Private Securities Litigation Reform Act of 1995. These statements
include, but are not limited to, the statements in this release
regarding our expectations with respect to our financial targets
and other future financial performance and our assumptions, our
Operating Model Realignment program and other cost-saving
initiatives, future indebtedness and growth, industry trends, as
well as other statements related to the Company’s expectations
regarding the performance of its business and improvement of
operational performance. 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 Owens & Minor’s Annual Report on
Form 10-K for the year ended December 31, 2022, filed with the SEC
including the sections captioned “Cautionary Note Regarding
Forward-Looking Statements” and “Item 1A. Risk Factors,” 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 the company’s actual
results to differ materially from its current estimates. These
filings are available at www.owens-minor.com. Given these risks and
uncertainties, Owens & Minor can give no assurance that any
forward-looking statements will, in fact, transpire and, therefore,
cautions investors not to place undue reliance on them. Owens &
Minor specifically disclaims 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 Fortune 500 global
healthcare solutions company providing essential products and
services that support care from the hospital to the home. For over
100 years, Owens & Minor and its affiliated brands, Apria®,
Byram®, and HALYARD*, have helped to make each day better for the
patients, providers, and communities we serve. Powered by more than
20,000 teammates worldwide, Owens & Minor delivers comfort and
confidence behind the scenes so healthcare stays at the forefront.
Owens & Minor exists because every day, everywhere, Life Takes
Care™. Learn more at https://www.owens-minor.com, follow
@Owens_Minor on X and connect on LinkedIn at
https://www.linkedin.com/company/owens-&-minor/.
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version on businesswire.com: https://www.businesswire.com/news/home/20231206995655/en/
Investors Alpha IR Group Jackie Marcus or Davis Snyder
OMI@alpha-ir.com
or
Jonathan Leon SVP Finance & Treasurer
Investor.Relations@owens-minor.com
Media Stacy Law media@owens-minor.com
Owens and Minor (NYSE:OMI)
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부터 4월(4) 2024 으로 5월(5) 2024
Owens and Minor (NYSE:OMI)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024