Acquisition and Growth - Owens & Minor completed the acquisition of Apria, Inc. for approximately $1.7 billion, net of $144 million in cash acquired[9] - The Apria acquisition was completed for approximately $1.7 billion, funded through a mix of debt and cash, enhancing the Patient Direct segment[196] - Patient Direct segment operating income increased to $194 million in 2022 from $58 million in 2021, driven by the acquisition of Apria and strong revenue growth in the Byram business[195] Financial Performance - Net income per diluted share decreased to $0.29 for the year ended December 31, 2022, down from $2.94 in 2021[195] - Products & Healthcare Services segment operating income was $175 million in 2022, a decline from $384 million in 2021, attributed to reduced hospital demand and macroeconomic pressures[195] - The company experienced growth in sales volumes for PPE during the COVID-19 pandemic, but future growth rates remain uncertain[200] - Inflationary pressures and supply chain challenges have negatively impacted overall performance, despite some productivity gains[195] Market and Competition - Competitive pressures include major manufacturers like Cardinal Health and Medline, as well as national providers in the home healthcare market[29] - The home healthcare industry is highly fragmented and competitive, with potential revenue loss due to changes in contracts and increased competition from large technology companies[106] - The healthcare industry is experiencing consolidation, which increases the bargaining power of customers and may lead to pricing pressures[117] Regulatory Compliance - Compliance with healthcare regulations is costly and materially affects the business, with potential civil and criminal enforcement actions for violations[39] - The company is subject to extensive conditions for participation in governmental reimbursement programs, with potential penalties for violations[59] - The company expends significant resources to comply with federal and state laws, including those governing medical device design and manufacturing[47] - The company is subject to various federal and state laws regulating healthcare providers, including the Anti-Kickback statute, which can impose civil penalties up to $112,131 for each violation[65] - The company is subject to stringent regulatory and licensing requirements, with potential investigations that could disrupt operations and adversely affect financial performance[120] Intellectual Property - The company holds approximately 825 patents and patent applications globally, with 135 issued patents in the U.S. and 540 issued patents internationally, expiring between 2023 and 2043[34] - There are about 40 pending patent applications in the U.S. and 110 pending applications outside the U.S. to protect ongoing R&D investments[35] - The company has approximately 1,180 trademarks and trademark applications, including 160 registered trademarks in the U.S. and 850 registered internationally[36] - The company relies on intellectual property rights to maintain competitive advantage, and failure to protect these rights could lead to revenue loss[137] Operational Risks - The company faces operational risks due to dependence on certain healthcare provider customers and GPOs, which could materially affect financial results if relationships are lost[88] - The company’s operations depend on the proper functioning of critical facilities and distribution networks, with potential disruptions posing risks to business continuity[97] - The integration of acquisitions poses significant risks, including unanticipated problems and expenses that could adversely affect business operations and cash flows[102] - Supply chain disruptions and higher costs, particularly related to international freight and commodities, may adversely affect production capacity and profitability[113] Workforce and Talent Management - At the end of 2022, the company employed approximately 13,400 full-time and part-time teammates in the U.S. and 9,100 teammates outside the U.S.[74] - The company is committed to maintaining a diverse and inclusive environment, with various Teammate Resource Groups (TRGs) to support underrepresented identity groups[76] - The company has a proactive approach to talent management, offering competitive compensation packages and development programs to attract and retain key personnel[75] - The company’s ability to attract and retain qualified teammates is critical, especially in a tight labor market, which may lead to increased costs or challenges in recruitment[101] Financial Obligations and Debt - As of December 31, 2022, the company had approximately $2.5 billion in total indebtedness, with a debt-to-equity ratio of 264%[149] - The company owes $246 million, $500 million, and $600 million in principal under its 2024, 2029, and 2030 Notes, respectively, which are due in December 2024, March 2029, and March 2030[153] - The company has approximately $262 million in contractual obligations under operating leases due beyond the next twelve months[149] - The company’s credit facilities and existing notes contain restrictive covenants that limit financial flexibility and could adversely affect business operations[156] Legal and Environmental Considerations - The company is subject to ongoing audits by tax authorities, which could result in additional tax payments and adversely affect financial results[145] - Environmental regulations impose strict liability for contamination, and non-compliance may result in significant fines or operational limitations[48] - The company is impacted by evolving global data privacy laws, including the EU GDPR, which can impose fines up to 4% of worldwide turnover or €20 million[56] - The company is subject to anti-bribery laws, with violations potentially leading to fines, changes in business practices, and reputational harm[58] Stock Performance and Market Conditions - The common stock of Owens & Minor, Inc. trades on the New York Stock Exchange under the symbol OMI, with 2,354 common shareholders of record as of February 13, 2023[186] - The company's stock performance from December 2017 to December 2022 shows a decline to $109.90 from an initial value of $100, while the S&P 500 Index increased to $156.88[190] - The market price of the company’s common stock and debt has been highly volatile, influenced by various external factors[164] Health and Safety Initiatives - The company has implemented health and safety protocols in response to the COVID-19 pandemic, including providing personal protective equipment (PPE) and paid time off for vaccinations[86] - The company has taken measures to protect its workforce while ensuring business continuity amid the COVID-19 pandemic[197]

2023 Outlook - Revenue is projected to be in the range of $10.1 billion to $10.5 billion[8] - Gross Margin is expected to be approximately 20.5%[8] - Interest Expense is estimated to be between $175 million and $180 million[8] - Capital Expenditures are forecasted to be in the range of $190 million to $210 million[8] - The Adjusted Effective Tax Rate is projected to be between 26% and 27%[8] - Adjusted EBITDA is expected to be in the range of $490 million to $550 million[8] - Adjusted EPS is projected to be between $1.15 and $1.65[8] Modeling Assumptions - Diluted Weighted Average Shares Outstanding are estimated to be approximately 77.5 million[8] - The Operating Model Realignment Program is expected to provide approximately $30 million in Adjusted Operating Income benefit in 2023[8] - Commodity Prices are assumed to be stable to improving[8] - Customer Destocking is expected to begin subsiding in the second half of 2023[8]

Financial Data and Key Metrics Changes - The company reported fourth-quarter revenue of nearly $2.6 billion, up 3.4% year-over-year and 2.2% sequentially from Q3 [27] - Full-year revenue reached $10 billion, an increase of 1.7% [27] - Fourth-quarter gross margin was $407 million, or 16% of revenue, reflecting a 210 basis point increase from the previous year [27] - Adjusted net income for Q4 was $22 million, or $0.28 per share, while full-year adjusted net income was $184 million, or $2.42 per share [56] - The company generated $87 million in cash from operations in Q4, a 73% increase year-over-year, and $325 million for the full year, up 162% year-over-year [31] Business Line Data and Key Metrics Changes - The Patient Direct segment achieved net revenue of $617 million in Q4, a 135% increase year-over-year, and $2.1 billion for the full year, up 114% [32] - The Products and Healthcare Services segment reported Q4 net revenue of $1.9 billion, down 12% year-over-year but up nearly 2% sequentially [33] - The Patient Direct segment's profit margin reached nearly 11%, with a 280 basis point year-over-year expansion [5][44] Market Data and Key Metrics Changes - The medical distribution division stabilized after struggling from 2017 to 2019, with significant key account wins and retention contributing to growth [6] - The company noted a decline in demand for surgical and infection prevention products due to excess stock at customers and destocking trends [45][80] Company Strategy and Development Direction - The company is focusing on leveraging and investing in the Patient Direct segment to diversify revenue and enhance margins [26] - An operating model realignment program has been initiated, expected to deliver $30 million in adjusted operating income in 2023 and a run rate of $100 million by year-end [22][59] - The program aims to address cost structure issues and improve profitability through various work streams, including sourcing management and organizational redesign [23][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Patient Direct segment's growth trajectory and its ability to outperform the market [19][58] - The company anticipates challenges in the first half of 2023 due to destocking effects but expects earnings to ramp up in the latter half of the year [60][92] - Management emphasized the importance of addressing cost structures in response to changing market dynamics post-pandemic [50][88] Other Important Information - The company plans to file a new Universal self-registration statement as part of good governance practices [36] - Adjusted EBITDA for the full year was $518 million, with a margin of 5.2%, reflecting a 20 basis point increase from the prior year [56] Q&A Session Summary Question: How is the company measuring progress on the $30 million target for this year? - The company plans to report quarterly progress against the $30 million target and has established a structured management approach for the operating model realignment [63] Question: What are the expectations for cash flow this year? - The company expects cash flow to be at least as much as in 2022, with potential for improvement as the operating model realignment program progresses [92] Question: How does the company view its competitive position post-destocking? - Management believes improvements in service levels and a focus on cost reduction will enhance competitiveness in the market [67][68] Question: What is the expected leverage at the end of 2023? - The company anticipates a reduction of approximately one turn in leverage by the end of the year, supported by cash flow generation and debt repayment [70] Question: Can you elaborate on the wide guidance range for EPS? - The wide range is primarily due to uncertainties around customer destocking and its timing, which affects revenue projections [73]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________ FORM 10-Q ________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-9810 ________________ ...

Owens & Minor, Inc. (NYSE:OMI) Q3 2022 Earnings Conference Call November 2, 2022 8:30 AM ET Corporate Participants Alex Jost - Director-Investor Relations Ed Pesicka - President and Chief Executive Officer Alex Bruni - Executive Vice President and Chief Financial Officer Conference Call Participants Andrea Alfonso - UBS Daniel Grosslight - Citi John Stansel - JPMorgan Charlotte Kolb - Bank of America Operator Good day and thank you for standing by. Welcome to Owens & Minor’s Third Quarter 2022 Earnings Conf ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ________________________________________________ FORM 10-Q ________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-9810 _____________________ ...

2022 Company Outlook - The company projects full year 2022 revenue to be in the range of $9.8 billion to $10.1 billion[3] - The company anticipates a gross margin of approximately 20% for the full year 2022[3] - The company expects interest expense to be between $130 million and $135 million for the full year 2022[3] - The company forecasts capital expenditures to be in the range of $185 million to $195 million for the full year 2022[3] - The company estimates an adjusted effective tax rate between 24% and 26% for the full year 2022[3] - The company anticipates approximately 77 million diluted weighted average shares outstanding[3] - The company projects adjusted EBITDA to be in the range of $570 million to $610 million for the full year 2022[3] - The company expects adjusted EPS to be in the range of $2.85 to $3.15 for the full year 2022[3] External Factors - The company notes that commodity prices, inflation, and interest rates are unfavorable in the near-term[3] - The company states that foreign currency rates are as of June 30, 2022[3]

Owens & Minor, Inc. (NYSE:OMI) Q2 2022 Earnings Conference Call August 3, 2022 8:00 AM ET Company Participants Alex Jost – Director-Investor Relations Ed Pesicka – President and Chief Executive Officer Andy Long – Executive Vice President and Chief Financial Officer Conference Call Participants Kevin Caliendo – UBS Daniel Grosslight – Citi Hannah Lee – Bank of America Eric Coldwell – Robert W. Baird Operator Good day, and thank you for standing by. Welcome to Owens & Minor’s Second Quarter 2022 Financial Re ...

Financial Outlook for 2022 - Revenue is projected to be in the range of $9.9 billion to $10.3 billion[8] - Gross margin is expected to be approximately 20%[8] - Interest expense is estimated to be between $125 million and $130 million[8] - Capital expenditures are projected to be in the range of $175 million to $185 million[8] - The adjusted effective tax rate is expected to be between 24% and 26%[8] - Adjusted EBITDA is projected to be in the range of $580 million to $630 million[8] - Adjusted EPS is expected to be between $3.05 and $3.55[8] Other Considerations - The company anticipates unfavorable conditions in the near term regarding commodity prices, inflation, and interest rates[8] - The company's outlook and modeling assumptions are used for 2022 adjusted EPS guidance, and the company undertakes no obligation to update such assumptions subsequent to the date of this presentation[8] - The presentation includes combined financial information for the Company and Apria without adjustments, which does not comply with U.S GAAP or pro forma presentation rules[5] - The company uses non-GAAP financial measures internally to evaluate performance, balance sheet, financial and operational planning and determine incentive compensation[7]

Owens & Minor, Inc. (NYSE:OMI) Q1 2022 Earnings Conference Call May 3, 2022 4:30 PM ET Company Participants Ed Pesicka - President and Chief Executive Officer Andy Long - Executive Vice President and Chief Financial Officer Alex Jost - CPA Director, Investor Relations Conference Call Participants Michael Cherny - Bank of America Merrill Lynch A.J. Rice - Credit Suisse Kevin Caliendo - UBS Daniel Grosslight - Citi Eric Coldwell - Baird Michael Minchak - JPMorgan Operator Good day and thank you for standing ...