Accendra Health, Inc. · NYSE:ACH
Accendra Health — Owens & Minor — Q4 2018 Earnings Presentation
10 slides from Accendra Health's earnings presentation, Feb 20, 2019
Slide 1: 4th Quarter 2018 Earnings
4th Quarter 2018 Earnings February 20, 2019
Slide 2: Safe Harbor
Safe Harbor This presentation is intended to be disclosure through methods reasonably designed to provide broad, non- exclusionary distribution to the public in compliance with the SEC's Fair Disclosure Regulation. This presentation contains certain ''forward-looking'' statements made pursuant to th
Slide 3: 2018 Highlights
2018 Highlights . Revenue . Growth of 6.4% for 2018 driven by contributions from Byram and Halyard . Global Solutions . Efficiency improvement and operating performance are top priorities . Byram continues to exceed our expectations . Global Products . Halyard revenue growth on track . Net Income pe
Slide 4: Global Solutions Segment Results
Global Solutions Segment Results (S in millions) 2018 2017 Net revenue $9,188.1 $9,186.0 Operating Income 104.1 141.1 . Byram, acquired in August 2017, contributed $340 million to annual revenue growth . Results negatively affected by: . Continuing distribution margin pressure . Warehouse inefficien
Slide 5: Global Products Segment Results
Global Products Segment Results (S in millions) 2018 2017 Net revenue $1,111.3 $504.0 Operating Income 75.7 38.5 . Results reflect Halyard revenue contribution of $664 million . Operating income increase driven primarily by Halyard contributions 5
Slide 6: Balance Sheet/Capital Deployment
Balance Sheet/Capital Deployment . Amended credit agreement to enhance financial flexibility; associated increase in interest expense reflected in 2019 guidance . Dividend of $0.0025 per share declared by the board for the 1st quarter of 2019 . Cash balance at December 31, 2018 was $103 million . Op
Slide 7: 2019 Guidance & Modeling Assumptions
2019 Guidance & Modeling Assumptions For 2019, the company expects adjusted net income per share to be in a range of $0.60 - $0.75 per share Modeling1 Full Year 2019 Revenue Flat compared to 2018 Gross Margin 15.3-15.4% DS&A 13.7-13.8% Interest expense $100-110m Capital Expenditures $55-65m Adj. Eff
Slide 8: Appendix
APPENDIX 8
Slide 9: Financial Summary
Financial Summary ($ in millions, except per share data) 4Q18 4Q17 2018 2017 Revenue $2,543 $2,390 $9,839 $9,318 % yoy growth 6.4% 5.6% Operating income (loss), GAAP1 ($266) ($8.8) ($392) $89.3 Operating income (loss), Non-GAAP2 $33.7 $42.2 $177 $180 Net income (loss), GAAP1 ($262) $23.0 ($437) $72.
Slide 10: GAAP/Non-GAAP Reconciliation
GAAP/Non-GAAP Reconciliation (dollars in thousands, except per share data) Three Months Ended December 31, Twelve Months Ended December 31, 2018 2017 2018 2017 Operating income (loss), as reported (GAAP) $ (265,697) $ (8,772) $ (392,174) $ 89,251 Intangible amortization 10,367 6,665 36,514 16,402 Go