Owens and Minor posted fourth-quarter results that beat the consensus forecast on Wall Street.
The Mechanicsville, Va.-based company reported profits of $50.7 million, or 72¢ per share on sales of $2.4 billion for the three months ended Dec. 31, 2020, for a sales growth of 7.8% compared with Q4 2019.
Adjusted to exclude one-time items, earnings per share were $1.14, 29¢ ahead of The Street, where analysts were looking for sales of $2.2 billion.
“We delivered exceptional financial results for the quarter and full-year through strong execution,” president and CEO Edward Pesicka said in a news release. “Our productivity gains along with favorable product mix drove our margin improvement and significant earnings growth. During the year we successfully deleveraged our balance sheet while continuing to reinvest in our businesses. We have established a solid foundation for long-term profitable growth and enhanced financial flexibility.”
“The monumental e…