Shares of Owens & Minor, Inc. (OMI) are currently down by more than 21 percent, even after reporting a significant reduction in losses for the first quarter.
The net loss came in at $21.9 million, equivalent to $0.29 per share, which is an improvement from the $24.4 million or $0.32 per share loss reported in the same period last year.
When adjusted, the earnings were $14.9 million or $0.19 per share, a substantial increase from last year's $3.6 million or $0.05 per share.
Additionally, there was a growth in revenue to $2.6 billion, up from the $2.5 billion reported in the previous year.
Despite the positive financial results, Owens & Minor's shares have fallen by 21.52 percent to $19.24, compared to the previous close of $24.51 on the New York Stock Exchange. Over the past year, the share price has fluctuated between $13.64 and $28.35.
