Owens & Minor Stock Sheds Despite Q2 Earnings Beat Consensus, Reiterated FY21 Outlook

Owens & Minor Inc OMI posted Q2 adjusted EPS of $1.06, beating the consensus of $0.97.
Sales witnessed a growth of 37.7% to $2.49 billion, slightly ahead of the Wall Street estimate of $2.47 billion.
The gross margin expanded to 16.1% from 14.9% a year ago, and the operating margin improved from 1.2% to 3.9%.
Investors are probably reacting to the Company not increasing the guidance.
Outlook: Owens & Minor maintained FY21 outlook for EPS of $3.75 - $4.25 (consensus of $3.97) and adjusted EBITDA of $450 million - $500 million.
It also remains positioned to deliver its previously announced guidance for 2022.
Price Action: OMI shares are down 9.50% at $41.47 during the market session on the last check Tuesday.