The 2020 Mid-Year Economic Update_long

Owens & Minor Sales Down 8.8% in 2Q

Company closes on acquisition of Byram Healthcare.

Owens & Minor Inc. (NYSE: OMI), Richmond, VA, reported sales for the second quarter of $2.3 billion, down 8.8 percent year-over-year. Profit decreased 27.4 percent to $20.1 million.

Domestic segment sales for the first quarter were $2.1 billion, a decrease of 9.4 percent year-over-year, while international segment sales increased 8.2 percent to $95.9 million.

Year-to-date sales were $4.6 billion, down 7 percent from the prior-year period. Profit decreased 24.9 percent to $38.9 million.

The company also closed the previously announced acquisition of Byram Healthcare for $380 million. Byram Healthcare, a national distributor of direct-to-patient medical supplies, will accelerate Owens & Minor's strategic plan to expand its services along the continuum of care.

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