Solventum Corp (SOLV)

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Solventum Reports Second Quarter 2024 Financial Results and Raises Full-Year Guidance

Source: PR Newswire (US)
Separation activities and business continuity on track
Reported sales increased 0.2% to $2.081 billion; organic sales increased 1.3%
GAAP Earnings Per Share (EPS) of $0.51; adjusted EPS1 of $1.56
Generated $355 million in cash from operations; free cash flow1 of $297 million
Raises full-year 2024 organic sales growth and adjusted EPS guidance
ST. PAUL, Minn., Aug. 8, 2024 /PRNewswire/ -- Solventum (NYSE: SOLV) today reported financial results as a stand-alone company for the second quarter ended June 30, 2024.

Solventum Logo (PRNewsfoto/3M Healthcare US Opco LLC)

"As we continue to execute a complex transformation, we're encouraged by our first financial results as an independent company and early ability to maintain business continuity," said?Bryan Hanson, chief executive officer, Solventum. "We are starting from a solid foundation and remain focused on addressing historical underperformance and spin-related topics to unlock significant value creation over time."