OMI Owens & Minor
Filed: 5 May 21, 6:04am
1st Quarter 2021 Earnings Supplemental Slides May 5, 2021
1st Quarter 2021 Earnings – May 5, 20212 This presentation is intended to be disclosure through methods reasonably designed to provide broad, non-exclusionary distribution to the public in compliance with the SEC's Fair Disclosure Regulation. This presentation contains certain ''forward-looking'' statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the statements in this presentation regarding our expectations with respect to our 2021 financial performance and our modeling assumptions, as well as other statements related to the Company’s expectations regarding the performance of its business and improvement of operational performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from those projected or contemplated in the forward- looking statements. Investors should refer to Owens & Minor’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC including the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and subsequent annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed with or furnished to the SEC, for a discussion of certain known risk factors that could cause the company’s actual results to differ materially from its current estimates. These filings are available at www.owens- minor.com. Given these risks and uncertainties, Owens & Minor can give no assurance that any forward-looking statements will, in fact, transpire and, therefore, cautions investors not to place undue reliance on them. Owens & Minor specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Owens & Minor uses its web site, www.owens-minor.com, as a channel of distribution for material Company information, including news releases, investor presentations and financial information. This information is routinely posted and accessible under the Investor Relations section. Safe Harbor
1st Quarter 2021 Earnings – May 5, 20213 Subject to the key assumptions below, the Company expects adjusted net income for 2021 to be in a range of $3.75 to $4.25 per share and adjusted EBITDA for 2021 in the range of $450 million to $500 million: • Continued favorable outlook around elective procedures for the remainder of the year • Improved line of sight for PPE sales into the third quarter • Reduction in interest expense as a result of recapitalized debt structure with lower base rates • Pass through of exam glove cost increases will contribute $700-$800 million to top line, with minimal impact to profitability 2021 Guidance
4 1st Quarter 2021 Earnings – May 5, 2021 2021 Modeling Assumptions Modeling Assumptions* Full Year 2021 Revenue $9.6 - $10.0 billion Nitrile Glove Cost Pass-Through Revenue Impact $700 - $800 million Gross Margin 15.4% - 15.7% Adjusted EBITDA $450 - $500 million Interest Expense $45 - $50 million Capital Expenditures $80 - $90 million Adjusted Effective Tax Rate 27% Commodity Prices Unfavorable Trend * Modeling parameters are assumptions used for adjusted EPS guidance for 2021, and the Company undertakes no obligation to update such assumptions/modeling parameters subsequent to the date of this presentation (May 5, 2021).