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OMI.US
id: 407
On October 12, 2022, OMI shares dropped about 35% after disappointing financial results and a guidance cut.

Owens & Minor Inc (OMI) reduced its FY22 adjusted EPS guidance of $2.50-$2.60 from the previous guidance of $2.85-$3.15 and adjusted EBITDA of $527-$537 million, compared to the earlier forecast of $570-$610 million. As a result, the Company cut guidelines targets which it put less than 3 months ago, in early August.

According to Credit Suisse analyst, there are 2 issues that have driven the sharp sell-off:
  • First, investors perceived that the company had sounded on track for 3Q when it presented at healthcare conferences in September, making the management and estimate changes seem abrupt.
  • Second, there is confusion about whether the estimate revision puts OMI at risk relative to its leverage covenants.
Taking all the facts and statements of the Company's management into account, investors have reason to suspect the company in misleading statements and representations.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
12 October 2022
Collecting participants…

Owens & Minor Inc

Owens & Minor, Inc., together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Produc...

    Ticker
    OMI.US
    ISIN
    US6907321029
    CIK
    75252
    Sector
    Healthcare
    Industry
    Medical Distribution
    Country
    USA
    Address
    9120 Lockwood Boulevard, Mechanicsville, VA, United States, 23116