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CM & Minor Owens Owens & Minor Reports 1st Quarter Financial Results May 5 , 2021 RICHMOND , Va .-- ( BUSINESS WIRE ) -- May 5 , 2021-- Owens & Minor , Inc. ( NYSE - OMI ) today reported financial results for the first quarter of 2021 , as summarized in the table below . • Q1 year - over - year revenue growth of 10 % • Record Q1 GAAP EPS of $ 0.98 and Adjusted EPS of $ 1.57 • Raises 2021 Adjusted Net Income per share guidance to $ 3.75 - $ 4.25 " We're pleased to deliver another quarter of excellent growth on the top and bottom line as we continue to execute on the Owens & Minor business blueprint . Our first quarter results reflect strong operational execution across the company , powered by continued strength in global products and favorable market dynamics including an uptick in elective procedures in March , " said Edward A. Pesicka , President & Chief Executive Officer of Owens & Minor . " We also recapitalized our debt structure , thereby improving our strategic and operational flexibility . " Pesicka added , " We have raised our full - year guidance range for adjusted net income to $ 3.75 to $ 4.25 per share . The increased guidance is in light of the strong first quarter performance , our favorable outlook around elective procedures , and improved line of sight toward PPE demand into the third quarter . " Financial Summary ( $ in millions , except per share data ) Revenue Operating Income , GAAP Adj . Operating Income , Non - GAAP Income ( Loss ) from continuing operations , GAAP Adj . Net Income , Non - GAAP ** Adj . EBITDA , Non - GAAP * * ** 1021 $ 2,327 o 638 basis point gross margin expansion o $ 135 million increase in adjusted operating income o $ 9.7 million or 41 % decrease in interest expense o Almost 40x increase in adjusted net income per share $ 146.7 $ 162.7 $ 69.6 $ 111.5 $ 175.6 $ 0.98 1020 $ 1.57 $ 2,123 $ 10.8 Income ( Loss ) from continuing operations per share , GAAP ** Adj . Net income per share , Non - GAAP ** * Adjusted net income and Adjusted net income per share relate to continuing operations . Reconciliations of the differences between the non - GAAP financial measures presented in this release and their most directly comparable GAAP financial measures are included in the tables below . ** 1Q21 Adjusted EPS favorably impacted by $ 0.06 of foreign currency translation compared to prior year 1st Quarter 2021 Highlights $ 27.4 ( $ 8.9 ) $ 2.4 $ 40.6 ( $ 0.15 ) $ 0.04 • Significant increase in year - over - year first quarter earnings was driven by sales growth , market dynamics , product mix , and operating efficiencies • Revenue growth when compared to prior year was driven by increased demand for PPE , cost pass - through in gloves , along with strong performance in our Byram Patient Direct business , which was partially offset by fewer elective procedures and one less selling day • Balance Sheet and Cash Flow • Successfully issued $ 500 million senior unsecured notes due in 2029 , extending debt maturities and improving