Owens & Minor reports Q4 GAAP operating loss of $53.5M; launches cost-cutting program targeting $200M by 2025

ACCENDRA HEALTH INC/VA/

2022-FY EPS reported $0.29 revenue$9,955,475,000

Q4 revenue $2,551M, up 3.4% YoY; full-year revenue $9,955M, up 1.7%.
Q4 GAAP net loss $58.0M ($0.77 loss per share); adjusted net income $21.7M ($0.28 per share).
Patient Direct Q4 revenue up 135% (10.3% adjusted for Apria); full-year operating cash flow $325M.
Operating Model Realignment Program targets $30M adjusted operating income in 2023, $200M by 2025, and $250-400M working capital benefit.
Perry Bernocchi promoted to CEO of Patient Direct segment; Dan Starck named EVP Business Excellence, both effective March 1, 2023.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACCENDRA HEALTH INC/VA/ reported the year ended December 31, 2022 results: revenue $9,955, net income $22.4, EPS $0.29.

Period: the year ended December 31, 2022
Revenue: $9,955
Net income: $22.4
EPS: $0.29
Result: reported results

Exact text from the filing

Financial Summary (1) FYE FYE ($ in millions, except per share data) 4Q22 4Q21 2022 2021 Revenue $2,551 $2,467 $9,955 $9,785 Operating (loss) income, GAAP $(53.5) $62.0 $142.9 $368.5 Adj. Operating Income, Non-GAAP $67.2 $84.9 $369.1 $442.4 Net (loss) income, GAAP $(58.0) $42.0 $22.4 $221.6 Adj. Net Income, Non-GAAP $21.7 $61.2 $184.2 $309.3 Adj. EBITDA, Non-GAAP $116.7 $97.4 $517.8 $492.3 Net (loss) income per common share, GAAP $(0.77) $0.55 $0.29 $2.94 Adj. Net Income per share, Non-GAAP (2) $0.28 $0.81 $2.42 $4.10

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Source: SEC EDGAR

accession 0000075252-23-000004

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