Why Owens & Minor Stock Is Skyrocketing Today
Shares of Owens & Minor (NYSE: OMI) had soared 31.7% as of 10:46 a.m. EST on Wednesday. The big gain came after the medical supply company announced great fourth-quarter results before the market open.
Owens & Minor reported fourth-quarter revenue of $2.36 billion, up nearly 8% year over year. This result topped the average analyst estimate of $2.16 billion.
The company's bottom-line performance was even more impressive, with adjusted earnings per share in the fourth quarter of $1.14, up from $0.23 in the prior-year period. The Wall Street consensus was for adjusted earnings of $0.85 per share.
Source Fool.com
