Solventum Corporation News - SOLV

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Form EFFECT - Notice of Effectiveness

Form POS AM - Post-Effective amendments for registration statement

Form 4/A - Statement of changes in beneficial ownership of securities: [Amend]

Form 4 - Statement of changes in beneficial ownership of securities

Form EFFECT - Notice of Effectiveness

Form 424B3 - Prospectus [Rule 424(b)(3)]

Solventum to Participate in the Piper Sandler Healthcare Conference

Solventum to Participate in the Piper Sandler Healthcare Conference PR Newswire ST. PAUL, Minn., Nov. 19, 2024...

Form S-4 - Registration of securities, business combinations

Solventum Launches First 3D Printed Aligner Attachments to Revolutionize Aligner Treatment

Solventum Launches First 3D Printed Aligner Attachments to Revolutionize Aligner Treatment PR Newswire ST...

Form IRANNOTICE - Notice of disclosure filed pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (Exchange Act Section 13(r)).

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Form 8-K - Current report

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

Solventum Reports Third Quarter 2024 Financial Results and Raises Full-Year Guidance PR Newswire ST. PAUL...

Form 8-K - Current report

DewDiligence 1 month ago

SOLV 3Q24 Results by Business Segment
%Corp YoY Growth
Segment Sales Organic Sales†
Medical/surgical* 57% +1%
Dental 15% -4%
Health-info systems 16% +2%
Purification/filtration 11% 0% †Excludes acquisitions, divestitures, and currency.

*Includes components for other companies’ medical devices.

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DewDiligence 1 month ago

SOLV reports 3Q24 results—raises 2024 guidance…

New 2024 guidance is as follows:

• Non-GAAP EPS of $6.50-6.65 (vs prior guidance of $6.30-6.50).

• Organic sales growth of 0.5-1.0% (vs prior guidance of 0-1%).

• FCF of $750-850M (vs prior guidance of $700-800M).

At the current share price (~$77 as I’m typing), the midpoint of the new 2024 non-GAAP EPS guidance range represents a P/E ratio of 11.7x.

PR:
https://investors.solventum.com/image/2024-11-07-Solventum-Reports-Third-Quarter-2024-Financial-Results-and-Raises-Full-Year-Guidance.pdf

CC slides:
https://investors.solventum.com/image/SOLV+Q3+2024+Earnings+Presentation.pdf

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DewDiligence 2 months ago

SOLV seeking buyer for filtration business, according to WSJ sources:

https://www.wsj.com/business/deals/recent-3m-spinoff-explores-sale-of-filtration-unit-f331a83d

In 2Q24, the filtration segment comprised 12% of SOLV’s sales, but the growth rate was non-existent (#msg-174889792).

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DewDiligence 2 months ago

SOLV hires CMO:

https://finance.yahoo.com/news/solventum-names-surgeon-diagnostics-pioneer-130000072.html

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DewDiligence 4 months ago

SOLV 2Q24 CC slides:

https://investors.solventum.com/image/Q2+2024+Earnings+Presentation+-+FINAL+8.8.24.pdf

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DewDiligence 4 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.

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DewDiligence 4 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.

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abrooklyn 4 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."

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DewDiligence 5 months ago

Activist_investor_builds_stake_in SOLV—(3M’s healthcare spinoff):

https://finance.yahoo.com/news/peltz-trian-building-stake-3m-230900848.html

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DewDiligence 6 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.

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DewDiligence 6 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.

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KingOfSwing...Trading 7 months ago

Thank for the excellent post. Very useful.

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DewDiligence 7 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.

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Porgie Tirebiter 9 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!

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DewDiligence 9 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

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DewDiligence 9 months ago

SOLV Investor Day CC slides:

https://d1io3yog0oux5.cloudfront.net/_7984eceea22d0dd69e55aae6e648ee7c/3m/db/3194/30840/presentation/Solventum+Investor+Day+3.19.2024.pdf

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DewDiligence 9 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

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DewDiligence 9 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.

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DewDiligence 10 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.

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DewDiligence 10 months ago

SOLV is holding an Investor Day webcast 3/19/24 at 9am ET.

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DewDiligence 10 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)

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DewDiligence 10 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.

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DewDiligence 10 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

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Form EFFECT - Notice of Effectiveness

Form POS AM - Post-Effective amendments for registration statement

Form 4/A - Statement of changes in beneficial ownership of securities: [Amend]

Form 4 - Statement of changes in beneficial ownership of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form EFFECT - Notice of Effectiveness

Form 424B3 - Prospectus [Rule 424(b)(3)]

Solventum to Participate in the Piper Sandler Healthcare Conference

Form S-4 - Registration of securities, business combinations

Solventum Launches First 3D Printed Aligner Attachments to Revolutionize Aligner Treatment

Form IRANNOTICE - Notice of disclosure filed pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (Exchange Act Section 13(r)).

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Form 8-K - Current report

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

Form 8-K - Current report

SOLV Discussion

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SOLV News

Form EFFECT - Notice of Effectiveness

Form POS AM - Post-Effective amendments for registration statement

Form 4/A - Statement of changes in beneficial ownership of securities: [Amend]

Form 4 - Statement of changes in beneficial ownership of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form EFFECT - Notice of Effectiveness

Form 424B3 - Prospectus [Rule 424(b)(3)]

Solventum to Participate in the Piper Sandler Healthcare Conference

Form S-4 - Registration of securities, business combinations

Solventum Launches First 3D Printed Aligner Attachments to Revolutionize Aligner Treatment

Form IRANNOTICE - Notice of disclosure filed pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (Exchange Act Section 13(r)).

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Form 8-K - Current report

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

Form 8-K - Current report

SOLV Discussion

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