Earnings call transcript Q2 2023

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Operator

Good day, and thank you for standing by. Welcome to the Owens & Minor Second Quarter 2023 Earnings Conference Call. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Jackie Marcus, Investor Relations. Please go ahead.

Jackie Marcus

operator. you, Thank welcome XXXX and Owens Minor & Hello, call. to quarter earnings second everyone, the

Our call XXXX posted slides on of The for section our comments press the Relations outlook on which the financial on updated our with today's of second the results are the release included Investor quarter press XXXX along are of for as in as will well website. both be release. focused supplemental the

statements. section call, uncertainties, refer these report this on from addressed we actual of during full to The that forward-looking subject Please reports and filings matters or SEC these make Form description risks XX-K results today. and note risks for Form which including of uncertainties, quarterly are statements implied XX-Q. a Factors Please our those projected materially here in will cause to and on annual to differ could our Risk the

today, will financial measures, our measures In GAAP release. non-GAAP in and about are comparable these financial information included and our we to most measures press discussion reconciliations the reference certain

joined by and President Chief Officer. Executive Chief Pesicka, Bruni, Executive Today, I'm Vice President Alex and Financial Ed and Officer;

call Ed. over turn now will I the to

Edward Pesicka

and thank the you, and morning, for good Thank today. joining us Jackie, on you everyone, call

double-digit The including growth organic in momentum positive exceptionally in showed improvement second areas, Patient net quarter division our debt, mid-single-digit our continued a in strong and meaningful many growth continuation Direct of Distribution in cash segment. flow, Medical

recovery products constrained. as for S&IP demand a we remain However, division continue our see in our Products slow Global to higher-margin

flexibility for significantly to One provide the to XXXX of the is for debt objectives business. reduce

$XXX disciplined combined AR way overall the in put this operating flow by capital from us Our and Strong the the proceeds program, to model achieving in cash performance to and realignment organization, capital, operating focus over sales net driven led objective. by has of the in well quarter, on reduction million execution working has the the deployment. with QX

QX each first After end anniversary with After the Patient year-over-year marks of forma a in continued double-digit major of with the revenue growth fueled at our double-digit pro that by produce to segment. first four report top of of quarters, X-year the growth the acquisition the Apria in segment quarter Direct most I to line the year pleased a of celebrating quarter, growth of the the product comparison am performance previous strong categories. of

the addition, well and of to the is In quarter. delivered together points working It term long patient XX bullish that we remainder in in health Direct a Apria expansion in outlook home. remain as as the of Patient clear for are year, to continues broad home the for with Byram increase. chronic margin well of We the brands care demand year-over-year the the offering segment the operating basis powerful serve as for the on condition the

and the our to over Medical growth customers the growth in new of on offset segment. implementation Products were division, and revenue previous Distribution The residual X%, Moving we year-over-year accelerate Healthcare at our In partially our this results to by impact wins, losses. saw mixed. driven of segment by existing Services

In PPE, XX%. addition, excluding of be sales, noted growth same-store it showed should that

it for our Global is as our in division, Distribution specifically year-over-year. the we in recognize Medical recognize demand declined However, momentum products we higher-margin our headwinds elsewhere, PPE positive division, to face Products prudent as

are PPE, to the these means our elevated this With combined manufacturing demand trends. balance fixed of costs. remaining year levels and for harder work we lower costs, we the on cautious When much given with supply must control

managing and our control closely uncertainties and what recognizing can cannot these working as We are hard as to business navigate we possible.

have we Operating minimizing key to Model program. as Operating our efforts well already drive Model review With as is growth. the cost-saving our opportunity Realignment each enhancing processes well segment's this diligently headwind of for elements Realignment implemented excellence, operational to underway, One while program

and positive First, sourcing management stream, already. within significant made with results date, our work has demand to strides the team

Second, us the and build structure will allow invest central opportunities growth to to quarters. our teams organizational coming and redesigning our in areas

our improve excellence and excellence continue demand quarters. the of profitability. Third, if will in Services customers conversations having products partners ongoing be And rationalization with the critical important focus management and are the on network product coming we our broad our particularly commercial Healthcare and finally, and to challenges operational segment, in

of of products inflationary at distributed rely environment but to customers on critical same come recognizes Everyone our nature care. the components patient difficult as have proprietary an the time, our

for the on in a in actions to year. are with of adjusted the of the months. Realignment XXXX the We from the have Many contribution majority the program Model vast for place, program confident the $XX clear this income in achieve remainder target path of are the Operating million taken benefits the provided coming and to by we already operating value

at like half look the year, the the I the our Direct Medical continued program, opportunities back Patient and Model segment growth division. strength Distribution revenue I Operating the by our of When presented the of Realignment in

mentioned outlook previously of our S&IP products the adjusting slightly around has year full in expectations. a caution the However, resulted

join future in for will Finally, will Minor. share December the & I Owens team in at of the for and we Day Boston, hope our us early Investor which vision our you XXXX

Alex turn the and now the call performance financial to second Alex? will over our to full our guidance our quarter Chief I Bruni, discuss year. for Financial Officer,

Alexander Bruni

XXXX. second morning, in Good reviewing our quarter to our Ed. you, by of Thank financial start key the I'd like and performance results of everyone. the drivers

the the Following for for fourth and of that, cadence third the our and quarters. outlook the I'll year touch remainder briefly on

results. second quarter Starting with our

the growth and Our of Distribution services. strong Patient division in revenue continued of growth was X.X% the billion, represented in and care quarter products which was by segment Direct $X.X driven and for health our performance Medical

and and offset especially by our was revenue most compared in categories relatively our of For the diabetes across with XXXX second up X%, Patient versus Healthcare of quarter year Products largest division. to prior headwinds services categories, quarter, in flat in XX.X% with growth of was medical Direct apnea. sleep the Products growth revenue Global the distribution strong obstructive

quarter gross million of compared was inventory. product reduction The margin sales of in second mix significant as by contraction partially XX.X% of change revenue of sold, offset higher-margin in $XXX our revenue less million gross Second the margin expense reduction a PPE by medical XX.X% year, $X.X $XXX a XXXX. driven or or million driven quarter was the by of was prior a LIFO distribution in to versus

by inflationary primarily expenses due the the versus growth, benefits of with along Direct in wages million to year, to which XX.X% making Our million, support impacting quarter both increased $XXX distribution, revenue. occupancy prior Patient negatively expense and variable expenses selling up affected segments. pressures was for and expense administrative [ph] costs, increased and This revenue teammate $XX

$XX performance prior adjusted quarter GAAP $X.X operating income reflected compared increases. top million, expense Direct the quarter. for $XX.X $XX which was million, rate our quarter million. income during primarily to Strong to year, line and operating was segment performance the as to Interest the million for Patient was of critical in interest the due an was our margin increase

X.X%. to share. $XX margin GAAP per $XXX loss $X.XX for Adjusted quarter was amounted per $XX.X or $X.XX Adjusted million the million was net quarter in million the a with net of or the share. common a EBITDA loss income for quarter second of

exiting continues gain We this year as which $XX margin our with realignment the Additionally, remain our to model Ed contribution and as achieve million on mentioned, to momentum, in as improved well of run program operating rate. program from adjusted operating $XXX million income track performance. a to XXXX

sheet net and sales. the $XXX million, Let's In now second from significant AR balance look flow operating our in million the cash inclusive $XXX capital flow, we proceeds at generated quarter, of cash structure. of

the handful quarter, businesses. attractive program for lines. you've capital over trailing as of cash of driven flow, operating time, is our capable receivables us, within into working enter business few Patient related became and sell quarters, which from margins it to rigid of followed management strong the Direct, time economically across conversion customers by During cash the across seen by all business to to us Also, allows producing levels to that a is a

by operations, by second total debt of level Due debt net and to million cash million quarter. the the from during $XX $XXX we reduced

of We toward earmarked near-term longer-dated our built XXXX investments these invested and are Presently, balances, notes. which is much out series of our have cash coupon on much debt. the earning

$X.X also priority. have end billion, finalization was worth At was that the net and reduced our a Delevering million It's we noting total by remains since debt acquisition. billion. debt top $X of debt of total QX, Apria $XXX the the

able us, behind quarter guidance another XXXX. With we to for narrow our are

morning of and new Realignment of visibility on details confidence the sales and our are the back the EPS our program, adjusted release in against the portion earlier EBITDA caution product the balanced are lack revenue, in Patient revising have outlook The in available Relations we We Model this Operating Direct around supplemental the and to reflect and press website. our of Investor our S&IP slide half year. from adjusted

It's model our QX heavily of the will to back the cadence year. traditional be timing our QX think earnings operating reasonable for that that moreover, about end second the of that of to and the expect seasonality the benefits. of consistent and we half be twice expectation the As year realization roughly could of with the weighted earnings due to realignment

driving the savings on full performance in the business. time heavily as are We delivering of on well and as focused

Before service & in quality for provide turning of of enabling the for call customers. dedicated the the their operator all our teammates Q&A, I'd Minor to efforts thank to to over our like to highest Owens

the the now to call With operator that, Operator? turn I'll for over questions.

Operator

first Instructions] [Operator at UBS. you. Thank Kevin to We'll go Caliendo

Kevin Caliendo

to quarter million to now help to quarter to midpoint, in but savings to here. Like guys. comfortable million see is can that ordering EBITDA to second fourth essence, [ph] $XXX But half. at of needs get your half expectations in opinion pack of one part needs go Hey, from, us the cost from what third the the is half, terms you embedded you happen there it patterns, $XXX in start, fourth to sort second in quarter, do get bridge to I what of to this? what the achieve plan, operationally, third quarter. - get first guess in what I to of Last need

Alexander Bruni

Sure.

different it Let me break components. out in

Let me Direct. with start first Patient

shown. has historically and normal in business, So Patient Direct that's their seasonality

was pretty as in the back Direct increase the in the rapid for what products hit at year. escalates Patient at performance pace look the you patients the demand last half their of If deductibles, in year a

In the performance - addition our in to the Direct business. that, just Patient traditional continued strong

traditional historically. at the the there. ramp pace And that it's we not where if accelerate that's expect normal from to So been continue

been already aspect major have, in. and has Realignment that a through second Model it it its done the Operating to of It's locked four the work the in absolutely and we the needs right just streams of that Then way lot is you're work work system.

So take for example. sourcing,

material material half While and the - in the to that price lower will the we've products, coming systems, been their inventory working back on gone up are way place and able through at through end those product raw the which those a into year. raw source of

example so and those are be we've network our another in way marketplace. our think the the have optimization. would Those locked from in structured into in place, I - going actions that organization taken

a that The next on on on much operating help of debt. done the is drive adjusted continued income. to so taking really actually really but which going not debt thing down, reduction good is EBITDA job the impact, We've

our the the continuation our of and growth to Then improvement products one is And the getting expectation costs in lastly, division, the Products transparency in full were fixed is specifically within that toughest leverage really Distribution products our of the which predict segment Medical for us for it. in we're within the demand Global - in segment, PPE.

progressed. distribute can seen and significant those month-over-month fact still well say products a to distributors on exactly safety it's on difficult put the it demand have is has the But that other it sequential that our year you've that to our excess there brands don't the I your have we put that, customers pin want in finger I as improvement in got to miss because product or in what addition to as look, major them carry What for then of out stock, in both there. as have product stock, the

just I first So one continue They're we're bit those. talked And that's is put then that the one last at why which the the is trying to to Look, end a cautious on component. on, the that's We difficult about. more be in the back we're in. to locked to a really cautious half. pin little much four trying why to execute pretty need be

Kevin Caliendo

as a last the ask months importantly When at competitive your opinion, And it maybe about you is I where competitive pricing, the playing these in than inventories us or United down. States or coming over out positioning pressures comes sort Are your you months outside else? follow-up. sourcing pricing and seeing understand from marketplace? market X built can any anything for how in your of now have maybe Can opinion? how more talk are what the are - help in if to Just dynamics the of is all, changed, you the X PPE, additional

Alexander Bruni

so say, Yes. In I I a we've where rapid 'XX and price seen say that's XXXX, in would right my are now. would here, think saw essence, somewhat - in through they view, prices We I decline they stabilized but stabilize. they've in

Kevin Caliendo

terms share you perspective, you is of as it your in - positioning Or... you're or feel expecting seeing, in of share that? you're that like a from in just And of terms do reordering the are

Alexander Bruni

the No, hasn't changed. mix

Kevin Caliendo

Okay. Great. you, guys. Thank

Operator

Michael of our next at take We'll question Turney from Bank America.

Michael Turney

you you're like you that so PPE at maybe for question. the visibility give still course to follow the make pricing through, much been if over the Can where the your there's and about both components I that of come items on where as you sense control jump so steeper, build think within taking can out of you ramp? half some to your seems without. us sure about just relative little It year. degree how that highest waiting consensus know control a up up are we maybe to various think the ramp X Maybe the where X curious pieces, I bit is weighting risk adamant you've that of especially one? for Obviously, lot the Thanks least have a back moving of there. a on

Alexander Bruni

Sure. Yes.

a I Operating the confidence Model the seasonality this the clearest of segments business. Like all there and our I to in savings. continued we also of to those generate and the said, Realignment high leverage in continue line believe where operating that Direct, then in performance are think I locked strong think across is And visibility completely is I in. win business continue Patient level

our Medical growth, we confidence in business, continue with think have I Distribution there. of higher to so level momentum

put when as area when does that other distributors And I think that I difficult just pin still was our market bought an it that exact one trying that's sell products to not destocking, on amount customer, be clear through. in say is, because to of had And and I they but the tremendous product a a other ours flushing as the well destocking?

variable over visibility again, one XXX% well we complete control the have on. That's as don't as that,

high so as and confidence waiting other put would one very to them. So the risk that's or four the back the pretty - level I of in

Michael Turney

just negative seen risk looking the no for that because I but guess roller most the on you're PPE. about factor, on the part, could on have predicted the proof predicted harp pandemic. on coast do had last that just we've how demand No you think to points sorry one

your You went delivering service what what new of way been was to well all when needed. figure in your are customers we to out We've out is. and of that going incredibly get to to normal the wondering terms

victory proof the just to with what into not but there? success the especially your also call distribution points so are side, And for looking your direct look customers, you're called

Alexander Bruni

Yes.

products. starting of points customers, some XXXX customers steady-state to the comparison that that existing So back we're of use customers starting those customers, to is within We're we levels distribute know pre-COVID was to our And back them and those that of ordering. program. then measuring some see demand we and where at looking called a that, see kind they to our we're we're to customers again,

the telling through really of that that then tracings other side hard taking they of that's us burn look level So And they're what is at doing. inventory. other a to distributors

we been key way. the that get But the overall put haven't from are So I'll to state, steady have And at fluctuated again, factors. a month-to-month. improvements back have some it of improvement month-over-month. seen it those to They

Michael Turney

you. Thank

Operator

next at Suisse. A.J. our from take question Rice We'll Credit

Jonathan Yong

Hi, on the - thank guidance destocking here. a and on I the range kind much assumed some improvement? improve of we terms am to And you. trend? it the then component. Or what EBITDA if destocking of of the about how think at obviously, more Is you I much Just risk flavor happens factor is the big of does guess Yong get the how from is for guidance? end of top what EBITDA experiencing guess more similar risk of bottom I and does the is what that A.J. the the in bottom Jonathan your trying to to it need to it come for there to range, you're end now? factor midpoint? there

Alexander Bruni

Sure. From it. way material the The a significant majority our EBITDA out segment. I of risk Direct the Patient is year of factor coming this standpoint, for is would summarize

and - go generated year. that's bulk where Direct and of full the if that Patient expect ramp So is obviously, if to of second back look going quarter at the you the and of you for the be in year, segment you adjusted in the coming our from back EBITDA the half EBITDA the first

first - think operating you amount the quarter, in that third coming can product of that's services care in bulk that patient health the in model with I'm side. the then small more the second of quarter about the hit quarter in will Then fourth the first just the and and sorry, and been and

product bulk the true So - we've our but look, it towards Realignment. service some seasonality, of weighted, coming Model Operating got heavily in on that, Patient risk health care is of weighted from the the - of the with factor and benefit from a stuff Direct significantly

guess the it So compared from what's to there's answer services short to little coming the care half of the back of a it and parts other of product coming I business. health year derisk is the the the is in from

Jonathan Yong

Go ahead.

Alexander Bruni

that be say, extent, Sorry, think that range. where was stock factors a within land lesser and comp we will to terms going do I to just LIFO of in we

Jonathan Yong

other I But inventory that you perhaps helpful. it purchasing how their excess customers are you Do of distributors? burning guess, improving That's sense How stock mentioned they have? purchasing have they're normally - that they the hand then months through. any you patterns. from trend competitor is Thanks. much sounds Or would looking? And to do think all what of are on that they how have And about then like kind Okay. need? much products? they relative would some what

Alexander Bruni

Yes.

because proxy. generate that's we for is know good inventory job and And in really we done a believe quarter at which helped getting around we've tough But that tremendous turned the last ourselves cash think I difficult. us a as - look, data that look down, the quarter. we taking flow

we and it more our moving that we products we're highly probably thinking that to specifically to So focused been we've inventory we know get our they we're and as ourselves turn. have if using on out believe know similar a proxy,

than So the six in across we board, the what whether at short answer have would distributors buy if have believe they key not proxy, it's four, here the five are that but what that we is believe or and to we have look to, similar, we more, us, visibility a distributors direct stock. have don't can we

Jonathan Yong

Thanks. Okay.

Operator

to John go we'll at JPMorgan. Stansel Next,

John Stansel

Good morning. for on This Lisa. is Jon

on the commentary already, of demand of I to there driving kind back you some for the stable. a and the changed stable what's But commodity in kind price than impacts around you having guidance input visibility of to side more of Just management. positive you sourcing back quarter? you're said. to Is like you. sounds improving kind the cost half? for from just noticed anything your going that's the assumptions through like outlook adjusted as Or just added of It Thank kind the question

Alexander Bruni

look a judgment more would Products I impact eye close I that on things. on stable update John. division, particular, broad very it's and that based Yes. keep than here improving. Thanks, was in how a trends to the commodities probably our across we and say just a stable in think Obviously, they

John Stansel

changes then below we patterns of are the home had within And quarter? a Okay. Great. the I little that trend respiratory, And Direct. know being you discussion in just there? - I Patient kind during guess, potentially quarter some How seeing around last average any

Alexander Bruni

of a again, And just Yes. Direct At comps. we high tough overall more in off can't segment. that Patient had pleased level, pretty that a some in double-digit be business, growth that's coming

growth in had last on forma year pro So we that double-digit a segment. basis

still coming growing wanted off to. quarter-over-quarter. one at the It respiratory of is The that home COVID improved not rate sequentially is we category has

is actually more we [ph] it with to The other qualified. with home the aspect have to respiratory recall are us and get Philips the NIVs other capital respiratory that products, machines of have home to new has what and caused spend

of The going over When fixed, and that long-term is, be those we're is to we get it we're the not go. machines Philips fixed. to because going spend capital need all to have refurbished going time though, to - will to benefit that we're comfortable ready get it

to in the it's ones are double-digit all extremely not look guess where of double growing the has total want And across progressed. digits. ostomy well in categories be. Overall, where the do across I board, being again, year diabetes still marketplace. as two urology, wound aspects range. respiratory, all it improving other it in It major them and those whether CPAP, growing But to So categories we've segment of is at the the continence, our continuing got and we home the both it's care, in the of to

John Stansel

color. the Appreciate

Operator

to Daniel We'll at go Citi. Grosslight next

Daniel Grosslight

we're the of a you PPE mentioned day the hospitals conversations maybe of guess, Hi. to year, around to your inventories. years systems the or top - Thanks around health topic the couple think destocking. Earlier taking question. for the this want with go back through what's third I I working I their

and any if kind there's way there's third of And been if a with quantify to a hospitals you to had worth of - still about change your third stock. any stocks and Wondering conversations of access their that? The now? PPE right if year's

Alexander Bruni

based they to a Yes. stock last All to just well side we on I that year that But it's QX. looked that And that the conversations say gotten that's year less better. of thirds, at, that's just And ones the slightly one excess - those slightly up of better it's has come as as a seen the data again, we've That's are QX would just than to have second from is that two of the some of get component on slow other Those it. it's down. again, for it. what hospitals bucket have.

other that. that different the of have get So on But to also data tracings also to arms other to you around stock. factor our that's like need get got at market we've we improve. those to to the one And another to that's seen extra have tough as product where you and where channels get to sales we've look to channels try

Daniel Grosslight

Yes. Yes.

XX% growth PPE, on And seems quarter. ex core year the digit versus year-over-year nicely distribution last around then like Okay. this it trending that's mid-single

curious causing acceleration in growth? sales that same-store Just what's

Alexander Bruni

Yes.

things. think there's couple of a I

where with I and great just think running service. fill I was actually rates XX% XX%. customer north raw it's the a between yesterday we're

one fill want. when what industry-leading that's what no raw order, some they want, driven the rates. So that's And they And noise. of things they it. that's again, the get It's of they

are that I And the of field. better in win of aspect then other new starting the take been place. it to think execution has just implementations some the

that Distribution are are driving the the that strong division. factors those think major of performance Medical three I in

Daniel Grosslight

Thanks it. color. for the Got

Operator

Coldwell We'll to Baird. go at next Eric

Eric Coldwell

be you first pretty wins what Thanks. I the that or The conversation better the if growth prior market I in either that had hoping existing parse what accounts? last would volumes was growth, back well. losses? touched on perhaps PPE, offset you than component hospitals. out penetration again, question. good, XX% of X% from of But trend to as ex my sprinkle PPE, that could Maybe one the could it's going period differently, outside around some versus And distribution pricing of you kind is and in of helpful new then probably

Alexander Bruni

Yes.

manufacturers, from I standpoint. high setting of passing think into that it, plus. call at level, and hospital. price, volume blend with with a price between half we I the roughly and the normally level think I a lot level, know Again, this the reasonable a out would but times volume, haven't half broad high are gone of a cost a price We're there's at Eric, detail,

roughly half I our at about it's if So half, say, and would business. look we

as same-store sales, products within additional we're portfolio well customer, excluding gain and the us of broader with same-store through our that's a industry, significant and proxy is XX% portion the PPE, continuing sales it whether with the to our is as of for that use we health share, which we business again, expand tells both penetration this, services when Again, a as driving of the additional when account. health and see the

the couple some And the place a say, by two now. into trailing partially That's or are impact new offset of maybe point or so of we've that's - would coming then got right a impact. having losses. that point I wins of points a of benefits

continue to the that X% momentum. Eric, right, the as to industry. is in has operational been for going we've others system [ph] really the in done from all growth, is significant going, improvements But there driving what expect really and the pleased with growth what regardless done, and has is what the bus revenue Medical with we historically relative flat to the the as commercial way just sales a Distribution you're just And well team testament - overall noise the in of out

Eric Coldwell

I stocking a you're talking programs? additional about opportunities? of you like kitting of there? could sense you as on give you cite any what be that kind services, could Would there things color is When mean, the additional us provide additional a that services service.

Alexander Bruni

you example, I'll logistics. Yes, some give is stuff of like - an the outsourced

company a is logistics our seeing manufacturer where example or may able started. into hospital. the business. That's product outsourcing outsourced another device one you that's we for have looking in of So being logistics and the We're get growth the to

tremendous that you a as we that single example, time as are raise spent since a use eliminate a our have time at service business tremendous example - in the that's a improve in spent of And where there how just operations well amount of kitting waste did leadership I doing cost as with an - and we've service. that's So that. amount do in of really our we we're but looking

And in that's all we've of kits levels now And to able increased done the now and XXX% get on our to close right to being out U.S. manufacture service time.

get quicker. of So of from a to we're the That's on. service stuff customers ability the to the another that some it level, it example focused has

Eric Coldwell

there much, big And we've - in as acute a terms in I core what What's - any pipeline stabilizing landscape I or site is it I the as on Is what might. then guess, new customers heard comments. environment and there? there's maybe distribution, But market if picture out today? but mean, just care, business vetting alternate Just of the are for as well seeing other and the the is RFPs churn not vendors? you expectations? churn

Alexander Bruni

Yes.

good extended XX, of news out seen there's periods we're a The also in time. we've big now the bulk where right ones for our top where is are we some renewed chunky of So retention that position. opportunity and

seeing a large I ones. was critical the we But or to large are right now in of that ones think us. bulky some mix

ways the looking service to pricing customers competitive that - But as have a there's then small-sized different also and as higher for mid I of think there. out well level that we're also, are also

And $X a plus if – $X find We've think still looking any contract, got pipeline we're an time if billion very plus we're looking just customer X- Our to be X-year about to an as billion as our a - is pipeline at you it should average average, to business. to is large strong. win pipeline. opportunities

Eric Coldwell

you much. Thank Okay. it. very Appreciate

Operator

no And there are Ed this would to to further like questions I over closing for call Pesicka the back at turn time. remarks.

Edward Pesicka

well on for value we call The on thank interest to want in is the just as call this extremely participation the I everybody as of today. company. joining the everyone us appreciated

in December good the coming to also we're sharing coming that the attention continue look share a to at quarters. in I you made to soon. and done to continuing and Investor to Again, for as you that thank the look do what and I progress Boston. talking really time think Day forward as our we've your forward in today, in going quarters we've well to job progress

Operator

And this call. concludes you for conference Thank participation. your today's

disconnect. may You + now

Owens & Minor (OMI) 4 Aug 232023 Q2 Earnings call transcript