Owens & Minor (NYSE: OMI) stock plummeted 17.77% in Monday's pre-market trading following the release of its second-quarter 2025 financial results, which fell significantly short of analysts' expectations and revealed a major restructuring of the company's operations. The healthcare solutions provider reported Q2 revenue of $681.9 million, drastically missing the consensus estimate of $2.731 billion, while adjusted earnings per share came in at $0.26, slightly below the expected $0.27.

The company's disappointing performance was compounded by its announcement of a significant restructuring. Owens & Minor has classified its Products & Healthcare Services segment as discontinued operations, signaling an impending sale of this business unit. This move transforms the company into a pure-play Patient Direct business, focusing on what was previously known as the Patient Direct segment. The restructuring appears to have contributed to a staggering GAAP net loss of $869.058 million for the quarter.

Despite the market's negative reaction, Owens & Minor's management expressed optimism about the company's future. CEO Ed Pesicka highlighted favorable demographic trends and the company's meaningful scale as factors supporting its growth and leadership in the evolving market. However, investors seem wary of the significant changes and missed targets, as reflected in the sharp pre-market decline. The company plans to provide its 2025 financial outlook for continuing operations during an upcoming earnings conference call, which may offer more clarity on its future direction and performance expectations.