Owens & Minor Inc. (NYSE: OMI), Richmond, Va., global healthcare solutions company integrating product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home, reported sales for its fiscal 2022 third quarter were $2.5 billion, roughly equal to the prior-year period.
Net income for the quarter was $12.5 million, down from 71.7% from the prior-year period. Sales for the first nine months were $7.4 billion, up from $7.3 billion in the first nine months of 2021.
“In the third quarter we saw greater than expected macro-economic and industry-related forces that continue to challenge our Products & Healthcare Services segment and as the quarter progressed, we saw more of our acute care customers delay reorders utilizing their stockpiled items,” said Edward A. Pesicka, president and CEO. “To better address these challenges and capitalize on opportunities, we are accelerating execution of key initiatives to improve the segment’s performance. Overall, our core business fundamentals remain strong, we have the right strategy, and our portfolio is well positioned to capitalize on opportunities as our execution and market conditions improve.”