Owens & Minor sees ‘solid top-line results’
By HME News Staff
Updated 8:42 AM CST, Mon November 4, 2024
RICHMOND, Va.– Owens & Minor reported consolidated revenue of $2.7 billion in the third quarter of 2024, an increase of 5% year over year.
Of that, the company’s Patient Direct business had revenue of $687 million, up 6%, driven by strength in several categories, led by diabetes and sleep supplies. Adjusted EBITDA was $142 million, up 5%; and total debt reduction was $198 million.
“Our third quarter results demonstrated our ability to deliver on our commitments both near-term, as well as on our strategic initiatives,” said Edward Pesicka, president and CEO. “Our Patient Direct segment continues to perform well in the growing home-based care space, while we continue investing to support long-term profitable growth. In our Products & Healthcare Services segment, we continue to see solid top-line results, especially within our Medical Distribution division.”
The company revised its financial outlook for 2024 to revenue in a range of $10.6 billion to $10.8 billion and adjusted EBITDA in a range of $540 million to $550 million.
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