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OM’s Patient Direct delivers despite ‘unique challenges’ 

OM’s Patient Direct delivers despite ‘unique challenges’ 

RICHMOND, Va. – Owens & Minor reported consolidated revenue of $2.6 billion in the first quarter of 2024, representing year-over-year growth of 4%. 

Of that, Patient Direct revenue was $638 million, up 5%. 

“Our solid performance in the first quarter was in line with our expectations, as we delivered top-line growth in both segments, adjusted operating margin expansion and improved year-over-year profitability,” said Edward Pesicka, president & CEO. “At the same time, we are making the kind of investments consistent with our strategic plan previewed at our Investor Day in December 2023. On the heels of double-digit growth in the prior years, our Patient Direct segment delivered mid-single digit top-line growth while navigating the unique challenges that occurred in the quarter, demonstrating the strength of our team and the effectiveness of our go-to-market strategies.” 

Other financial results: 

  • GAAP operating margin was flat, while adjusted operating margin expanded by 31 basis points versus prior year 

  • Net loss per share of $(0.29) and adjusted earnings per share of $0.19 in the first quarter 

For the full year, the company anticipates:  

  • Revenue for 2024 to be in a range of $10.5 billion to $10.9 billion 

  • Adjusted EBITDA for 2024 to be in a range of $550 million to $590 million 


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