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      6. Solventum Corporation (SOLV)

      7. Solventum Corporation (SOLV) News

      Solventum Corporation

      Solventum Corporation (SOLV)

      SolVBL Solutions Inc
      Solvac SA
      68.525
      -0.695
      ( -1.00% )
      Updated: 13:40:25
      Delayed by 15 minutes

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      SOLV News

      Official News Only

      Form 4 - Statement of changes in beneficial ownership of securities
      Edgar (US Regulatory)
      August 14 2024
      SOLV (-1.00%)

      Form 10-Q - Quarterly report [Sections 13 or 15(d)]
      Edgar (US Regulatory)
      August 09 2024
      SOLV (-1.00%)

      Form 8-K - Current report
      Edgar (US Regulatory)
      August 08 2024
      SOLV (-1.00%)

      Form 8-K - Current report
      Edgar (US Regulatory)
      May 17 2024
      SOLV (-1.00%)

      Form 4 - Statement of changes in beneficial ownership of securities
      Edgar (US Regulatory)
      May 15 2024
      SOLV (-1.00%)

      SOLV Discussion

      View Posts
      DewDiligence DewDiligence 2 months ago
      SOLV 2Q24 CC slides:

      https://investors.solventum.com/image/Q2+2024+Earnings+Presentation+-+FINAL+8.8.24.pdf
      👍️0
      DewDiligence DewDiligence 2 months ago
      SOLV 2Q24 Results by Business Segment
      %Corp YoY Growth
      Segment Sales Organic Sales†
      Medical/surgical* 56% +2%
      Dental 16% -2%
      Health-info systems 16% +4%
      Purification/filtration 12% -1% †Excludes acquisitions, divestitures, and currency.

      *Includes components for other companies’ medical devices.
      👍️0
      DewDiligence DewDiligence 2 months ago
      SOLV’s raised 2024 guidance is as follows:

      https://finance.yahoo.com/news/solventum-reports-second-quarter-2024-200500242.html

      • 2024 organic sales growth of 0-1% (up from the prior range of -2% to 0%).

      • 2024 non-GAAP EPS of $6.30-6.50 (up from the prior range of $6.10-6.40).

      At the current share price ($60.00 as I’m typing), the midpoint of the new 2024 non-GAAP EPS guidance range represents a P/E ratio of 9.4x.
      👍️0
      abrooklyn abrooklyn 2 months ago
      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."
      👍️ 1
      DewDiligence DewDiligence 2 months ago
      Activist_investor_builds_stake_in SOLV—(3M’s healthcare spinoff):

      https://finance.yahoo.com/news/peltz-trian-building-stake-3m-230900848.html
      👍️0
      DewDiligence DewDiligence 3 months ago
      SOLV 1Q24 Results by Business Segment
      %Corp YoY Growth
      Segment Sales (const currency)
      Medical/surgical* 56% flat
      Dental 17% flat
      Health-info systems 16% flat
      Purification/filtration 12% +7% *Includes components for other companies’ medical devices.
      👍️0
      DewDiligence DewDiligence 3 months ago
      SOLV’s “AI play”—>heath-information systems segment:

      https://finance.yahoo.com/news/solventum-introduces-denials-prevention-solution-130000721.html

      Heath-information systems comprised 16% of SOLV’s overall (pro forma) sales in 1Q24 (#msg-174387294), but SOLV expects this figure to steadily increase due to the application of AI.
      👍️0
      KingOfSwing...Trading KingOfSwing...Trading 4 months ago
      Thank for the excellent post. Very useful.
      👍️0
      DewDiligence DewDiligence 5 months ago
      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.
      👍️0
      Porgie Tirebiter Porgie Tirebiter 6 months ago
      All of a sudden, I own shares of SOLV! I guess I should have been paying more attention to 3M.

      I've had 3M for years and years, just collecting the dividend and probably not paying enough attention to it!
      👍️0
      DewDiligence DewDiligence 6 months ago
      SOLV begins trading on NYSE following completion of spinoff from 3M:

      https://finance.yahoo.com/news/solventum-begins-trading-york-stock-103000676.html
      👍️ 1
      DewDiligence DewDiligence 6 months ago
      SOLV Investor Day CC slides:

      https://d1io3yog0oux5.cloudfront.net/_7984eceea22d0dd69e55aae6e648ee7c/3m/db/3194/30840/presentation/Solventum+Investor+Day+3.19.2024.pdf
      👍️ 1
      DewDiligence DewDiligence 6 months ago
      SOLV issues 2024 guidance:

      https://finance.yahoo.com/news/solventum-hosts-inaugural-investor-day-103000871.html

      • Organic revenue growth of -2% to 0%

      • Adjusted earnings per share (EPS) of $6.10 to $6.40

      • Free cash flow of $700M to $800M
      👍️ 1
      DewDiligence DewDiligence 7 months ago
      Details of 3M’s SOLV spinoff finalized:

      https://finance.yahoo.com/news/3m-board-directors-approves-spin-165500127.html

      3M shareholders of record on 3/18/24 will receive 1 share of SOLV for every 4 shares of 3M. The SOLV shares will be distributed before the market open on 4/1/24.

      This is a tax-exempt distribution for US residents.
      👍️0
      DewDiligence DewDiligence 7 months ago
      SOLV sells $6.9B of debt in six tranches:

      • $1B of 3yr notes @5.45%

      • $1.5B of 5yr notes @5.40%

      • $1B of 7yr notes @5.45%

      • $1.65B of 10yr notes @5.60%

      • $1.25B of 30yr notes @5.90%

      • $0.5B of 40yr notes @6.00%

      The total debt issuance was supposed to $8.4B (according to 3M's recent webcast), but I don't know where the other $1.5B is coming from.

      All but $600M of the proceeds will be paid to 3M as consideration for the spin-off of 3M’s healthcare business to SOLV.
      👍️ 1
      DewDiligence DewDiligence 7 months ago
      SOLV is holding an Investor Day webcast 3/19/24 at 9am ET.
      👍️0
      DewDiligence DewDiligence 7 months ago
      These are the five focal areas for 3M’s healthcare business that will become part of Solventum; they comprise about 25% of 3M’s current company-wide sales:

      https://engage.3m.com/purification

      https://www.3m.com/3M/en_US/health-information-systems-us/

      https://www.3m.com/3M/en_US/medical-us/ (surgical supplies and wound care)

      https://www.3m.com/3M/en_US/medical-device-components-us/ (components for other companies’ medical devices)

      https://www.3m.com/3M/en_US/oral-care-us/ (dentistry and othodontics)
      👍️0
      DewDiligence DewDiligence 7 months ago
      Further details of 3M/SOLV capitalization:

      SOLV will sell $8.4B of new debt, keeping $600M of the proceeds and paying $7.7B as a one-time (tax-free) dividend to 3M. (~$100M of the debt proceeds will go to underwriting fees.)

      After the debt issuance and one-time payment to 3M, SOLV will have a debt/EBITDA ratio of ~3.5.
      👍️0
      DewDiligence DewDiligence 7 months ago
      3M sets 4/1/24 date for Solventum spin-off:

      https://d1io3yog0oux5.cloudfront.net/_28c5051c41e86ce7771a2dfe11a5ee94/3m/news/2024-02-21_3M_Announces_Filing_of_Form_10_Registration_1826.pdf
      👍️0

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