Ownes & Minor (OMI) Misses Q4 EPS by 5c, Sees Increased Interest Expense from Amended Credit Agreement

Ownes & Minor (NYSE: OMI) reported Q4 EPS of $0.09, $0.05 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $2.54 billion versus the consensus estimate of $2.51 billion.

GUIDANCE:

Ownes & Minor sees FY2019 EPS of $0.60-$0.75, versus the consensus of $1.02.

Amended Credit Agreement & Dividend for 1Q 2019

• On February 12, 2019, the company entered into an amended credit agreement that enhances the company’s financial flexibility and, among other things, revises the financial covenants throughout the life of the agreement. As a result of this agreement, the company’s interest expense will increase going forward, which is reflected in the financial guidance for 2019.
• Owens & Minor also announced that its board of directors has approved a first quarter dividend payment of $0.0025 per share. This dividend is payable on March 29, 2019, to shareholders of record as of March 15, 2019.
• Financial Guidance and Outlook
• “2019 is about laying the foundation for a much more profitable future, and I am confident that the company is on the right track,” said Sledd. “Our guidance encompasses the increased interest expense from the amended credit agreement, thoughtful investments for our future, and deleveraging our balance sheet.”

For earnings history and earnings-related data on Ownes & Minor (OMI) click here.

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