Owens & Minor’s Patient Direct segment ‘outperforms’
By HME News Staff
Updated 8:56 AM CDT, Fri November 3, 2023
RICHMOND, Va. – Owens & Minor reported third quarter revenue of $648 million for its Patient Direct segment, up 9.1% compared to the same period in 2022.
Overall, the company reported consolidated revenue of $2.59 billion, an increase of 3.8%.
“Our performance in the third quarter is another strong indication that our business strategy and execution are working, and that we are beginning to realize the benefits of the Operating Model Realignment Program,” said Edward Pesicka, president & CEO. “Patient Direct continues to outperform the market, demonstrating the enduring strength of our go-to-market strategies and service offerings. The Operating Model Realignment Program not only continued to deliver economic benefits, but also enabled us to reassess how we do business every day. We are well on our way to achieving the objectives established when we launched this initiative in the first quarter.”
The company narrowed its outlook for 2023 to:
- Revenue for 2023 to be in a range of $10.3 billion to $10.4 billion
- Adjusted EBITDA for 2023 to be in a range of $535 million to $555 million
- Adjusted EPS for 2023 to be in a range of $1.30 to $1.40
Comments