Owens & Minor (NYSE:OMI) shares hardly budged today on third-quarter results that topped the consensus forecast.
The Richmond, Virginia-based company posted profits of $44.1 million, or 48¢ per share, on sales of just over $2.5 billion for the three months ended Sept. 30, 2021, for a 4.3% bottom-line slide on sales growth of 14.4%.
Adjusted to exclude one-time items, earnings per share were 78¢, 23¢ ahead of Wall Street, where analysts were looking for sales of $2.5 billion.
“I’m pleased that in the third quarter, we continued on our path to a record-setting year,” Owens & Minor President & CEO Edward A. Pesicka said in a news release. “Our performance reflects the results of consistently providing high-quality service and value to our customers while strengthening the financial position of the company.”
Owens & Minor narrowed its previously set adjusted EPS guidance of between $3.75 and $4.25 to a range of between $3.90 and $4.10.
OMI shares were unmoved at $45.25 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was virtually level.