The 2020 Mid-Year Economic Update_long

Owens & Minor Sales Flat in 1Q

Profit decreases 2.3 percent in first quarter.

Owens & Minor Inc. (NYSE: OMI), Richmond, VA, reported sales for the first quarter of $2.3 billion, effectively unchanged from the prior-year quarter. Profit decreased 2.3 percent to $25.5 million.

"During the first quarter, we initiated the next step of our longer term international strategy and assigned an experienced Owens & Minor management team to provide operations expertise and identify future expansion and growth opportunities in the European healthcare market," said Craig Smith, CEO.

Domestic revenues for the first quarter were down 2.9 percent year-over-year to $2.1 billion, while international segment sales were up 2.8 percent to $107.5 million.

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