Owens & Minor, Inc. (OMI) stock prices were up by 23.45% early in the trading day, bringing the price per share up to USD$40.06 shortly after the commencing of market trading.
Stellar Guidance Reports
With the company finding itself in the fortuitous circumstance of being in a stronger position than it was before the onset of the global pandemic, it has reported stellar guidance reports for the future. The guidance for 2022 is reportedly six times higher than adjusted earnings from the fiscal year 2019. OMI’s disciplined approach to investing has motivated fundamental change that has poised the company for long-term success. Accordingly, the company has targeted adjusted earnings per share upwards of USD$6.00 in 2026, thereby doubling the earnings guidance from the fiscal year 2022.
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Strategic Priorities
The company reported a strategic priority of the leveraging of its foundation, wherein OMI will harness the multi-year rebuilding of core business discipline, culture, and processes. The company will also strive to utilize the financial resource at its disposal to continue the momentum of deleveraging. OMI will also drive long-term growth with the efficient and effective utilization of the strength of its balance sheet.
Facilitating Long-term Growth
OMMI is also focusing on the push for sustainable growth, primarily with the adoption of a multi prong strategy that will facilitate long-term and consistent growth of the business. The company will also facilitate long-term increases in shareholder value with guidance for the current sustainability program, as well as a balancing of the needs of all stakeholders.
Solid Liquidity Position
The company successfully issued senior unsecured notes that are due in 2029, amounting to USD$500 million. Generated funds will be allocated towards the retiring of higher-cost and shorter-dated debt. OMI also announced its entering into a new 5-year revolving credit facility that provides the company with access to up to USD$300 million. This is in addition to the newly amended three-year USD$450 million accounts receivable securitization facility. Further consolidating their solid liquidity position is the USD$25 million reported in operating cash flow for the first quarter of 2021.
Future Outlook for OMI
Armed with a solid liquidity position, and having outlined its plan for the facilitation of long-term and sustainable growth, OMI is poised for success. Current and potential investors are hopeful that the company will continue to leverage the resources at their disposal to usher in significant and sustained increases in shareholder value.
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