Shares of medical and surgical equipment manufacturer Owens & Minor (NYSE: OMI) were on a tear Wednesday, rising a solid 25.7% through 1 p.m. EDT in response to updates the company delivered at its 2021 Investor Day event.
So what did Owens & Minor say to get investors so excited? Oh, just that it expects to grow its business from the $8.5 billion in revenue it booked last year to "in excess of $12 billion" by 2026.
In just five years' time, says management, Owens & Minor will grow its revenue stream by roughly 50%, and produce $6 per share in adjusted earnings. For comparison, normalized earnings for all of last year were $1.42, so the company anticipates transforming 50% sales growth into a four-fold increase in profits.
For further details see:
Why Owens & Minor Stock Soared More Than 25% Today