Owens & Minor Q3 2024: $7.2B in Sales

TL;DR

OMNI Q3 sales hit $7.2B. Stock and APIC details filed.

AI Summary

Owens & Minor Inc. reported its Q3 2024 results, with net sales for the nine months ending September 30, 2024, reaching $7.2 billion. The company's financial statements include details on common stock and additional paid-in capital, with specific figures for various quarters in 2023 and 2024. The filing was made on November 4, 2024.

Why It Matters

This 10-Q filing provides a detailed look at Owens & Minor's financial performance for the third quarter of 2024, crucial for investors assessing the company's stability and growth trajectory.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but the absence of specific performance metrics beyond net sales requires further investigation for a complete risk assessment.

Key Numbers

• $7.2B — Net Sales (For the nine months ending September 30, 2024)

Key Players & Entities

• Owens & Minor Inc. (company) — Filer of the 10-Q report
• 9120 Lockwood Blvd, Mechanicsville, VA 23116 (location) — Business and mailing address
• $7.2 billion (dollar_amount) — Net sales for the nine months ending September 30, 2024
• November 4, 2024 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $2 — ange on which registered Common Stock, $2 par value per share OMI New York St

Filing Documents

• tmb-20240930x10q.htm (10-Q) — 2167KB
• tmb-20240930xex31d1.htm (EX-31.1) — 13KB
• tmb-20240930xex31d2.htm (EX-31.2) — 13KB
• tmb-20240930xex32d1.htm (EX-32.1) — 6KB
• tmb-20240930xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-014255.txt ( ) — 9356KB
• tmb-20240930.xsd (EX-101.SCH) — 45KB
• tmb-20240930_cal.xml (EX-101.CAL) — 59KB
• tmb-20240930_def.xml (EX-101.DEF) — 164KB
• tmb-20240930_lab.xml (EX-101.LAB) — 430KB
• tmb-20240930_pre.xml (EX-101.PRE) — 323KB
• tmb-20240930x10q_htm.xml (XML) — 2159KB

Financial Information

Part I. Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Consolidated Statements of Operations—Three and Nine Months Ended September 30, 2024 and 2023 3 Consolidated Statements of Comprehensive Income (Loss)—Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Balance Sheets—September 30, 2024 and December 31, 2023 5 Consolidated Statements of Cash Flows—Nine Months Ended September 30, 2024 and 2023 6 Consolidated Statements of Changes in Equity—Three and Nine Months Ended September 30, 2024 and 2023 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 35 Item 5. Other Information 35 Item 6. Exhibits 36

Signatures

Signatures 37 2 Table of Contents

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Owens & Minor, Inc. and Subsidiaries Consolidated Statements of Operations (unaudited) Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except per share data) 2024 2023 2024 2023 Net revenue $ 2,721,125 $ 2,591,742 $ 8,004,810 $ 7,677,817 Cost of goods sold 2,161,419 2,053,244 6,365,421 6,122,579 Gross profit 559,706 538,498 1,639,389 1,555,238 Distribution, selling and administrative expenses 469,798 452,583 1,416,724 1,356,334 Acquisition-related charges and intangible amortization 21,097 30,217 61,395 74,609 Exit and realignment charges, net 28,880 30,180 85,530 74,817 Other operating expense, net 15,727 1,677 21,542 4,991 Operating income 24,204 23,841 54,198 44,487 Interest expense, net 36,554 38,127 108,108 121,053 Other expense (income), net 1,438 ( 3,302 ) 3,796 ( 843 ) Loss before income taxes ( 13,788 ) ( 10,984 ) ( 57,706 ) ( 75,723 ) Income tax (benefit) provision ( 1,018 ) ( 4,558 ) 8,864 ( 16,638 ) Net loss $ ( 12,770 ) $ ( 6,426 ) $ ( 66,570 ) $ ( 59,085 ) Net loss per common share Basic $ ( 0.17 ) $ ( 0.08 ) $ ( 0.87 ) $ ( 0.78 ) Diluted $ ( 0.17 ) $ ( 0.08 ) $ ( 0.87 ) $ ( 0.78 ) See accompanying notes to consolidated financial statements. 3 Table of Contents Owens & Minor, Inc. and Subsidiaries Consolidated Statements of Comprehensive Income (Loss ) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, (in thousands) 2024 2023 2024 2023 Net loss $ ( 12,770 ) $ ( 6,426 ) $ ( 66,570 ) $ ( 59,085 ) Other comprehensive income (loss), net of tax: Currency translation adjustments 25,966 ( 9,891 ) 7,398 ( 9,940 ) Change in unrecognized net periodic pension costs 265 152 699 141 Change in gains and losses on derivative instruments ( 4,905 ) 777 (

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (unaudited) (in thousands, except per share data, unless otherwise indicated) Note 1—Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Owens & Minor, Inc. and the subsidiaries it controls (we, us, or our) and contain all adjustments necessary to conform with U.S. generally accepted accounting principles (GAAP). All significant intercompany accounts and transactions have been eliminated. The results of operations for interim periods are not necessarily indicative of the results expected for the full year. We report our business under two segments: Products & Healthcare Services and Patient Direct. The Products & Healthcare Services segment includes our Medical Distribution division, which includes our U.S. distribution business, along with our outsourced logistics and value-added services businesses, and our Global Products division which manufactures and sources medical surgical products through our production and kitting operations. The Patient Direct segment includes our home healthcare divisions (Byram and Apria). Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make assumptions and estimates that affect reported amounts and related disclosures. Actual results may differ from these estimates. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash includes cash and marketable securities with an original maturity or maturity at acquisition of three months or less. Cash, cash equivalents and restricted cash are stated at cost. Nearly all of our cash, cash equivalents and restricted cash are held in cash depository accounts in major banks in North America, Europe, and Asia. Cash that is held by a major bank and

View Full Filing

View this 10-Q filing on SEC EDGAR