Solventum Corp (SOLV): SOLV reports pro forma 1Q24 results—reit...

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Re: DewDiligence post# 7

Thursday, 05/09/2024 1:03:13 PM

Thursday, May 09, 2024 1:03:13 PM

SOLV reports pro forma 1Q24 results—reiterates 2024 guidance:

https://finance.yahoo.com/news/solventum-reports-first-quarter-2024-105000516.html

SOLV was spun out of 3M on 4/1/24, so the 1Q24 financial results are pro forma based on what SOLV would have reported if it had it been an independent company.

SOLV re-iterated 2024 guidance given on 3/19/24—see #msg-174067513. (2024 guidance includes the pro forma financials for 1Q24 and actual SOLV results for the remainder of the year.)

The only consequential update is that SOLV is not initiating a dividend, so that free cash flow can be directed toward paying down debt. This decision is not surprising in light of the large debt load SOLV took on as part of the spinoff from 3M.

p.s. No 1Q24 CC due to the Investor Day webcast just a few weeks ago.

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Recent SOLV News

Form 8-K - Current report • Edgar (US Regulatory) • 05/17/2024 09:07:47 PM
Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 09:08:57 PM
Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 09:07:58 PM
Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 09:05:26 PM
Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 09:03:19 PM
Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 01:13:00 PM
Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 10:50:29 AM
Solventum Reports First Quarter 2024 Financial Results and Capital Allocation Update • PR Newswire (US) • 05/09/2024 10:50:00 AM
Solventum Announces First Quarter 2024 Earnings Release Date and Upcoming Investor Events • PR Newswire (US) • 04/23/2024 08:45:00 PM
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