Solventum Corporation (NYSE:SOLV ) Q2 2024 Earnings Call August 8, 2024 4:30 PM ET Company Participants Kevin Moran - Senior Vice President, Investor Relations Bryan Hanson - Chief Executive Officer Wayde McMillan - Chief Financial Officer Conference Call Participants Travis Steed - Bank of America Vik Chopra - Wells Fargo David Roman - Goldman Sachs Operator Good day. My name is Ellie, and I will be your conference operator for today.

3M spin-off Solventum's second-quarter profit fell more than 70% on Thursday, hurt by limited sales growth of its wound care and surgical sterilization products and higher expenses, as it navigates functioning as a newly independent company.

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.

“Dividend Aristocrats

We were more active than usual in the quarter, buying shares that were available at very attractive prices. All in, we have ugly ducklings - high returns on capital, cash cow spinoffs, working through resolvable issues, and selling at attractive prices. I love buying businesses like this, and if it drops to my next buy price, we will add to it.

Since its spinoff from 3M, Solventum has been under-covered and misunderstood by the market.

Solventum (NYSE: SOLV ) stock is up on Tuesday after activist investor Trian Capital took a stake in the healthcare company. According to insider sources, Trian Capital has taken a large stake in the company.

The move comes just months after 3M spun off the healthcare product company.

Activist investor Nelson Peltz's Trian Fund Management has built a stake in 3M's healthcare spinoff Solventum , Bloomberg News reported on Monday, citing people with knowledge of the matter, sending shares of the company up 3.4% after the bell.

ST. PAUL, Minn., July 16, 2024 /PRNewswire/ -- Solventum (NYSE: SOLV) will release its second quarter 2024 financial results on Thursday, August 8, 2024 after the U.S. financial markets close.

ST. PAUL, Minn., July 2, 2024 /PRNewswire/ -- Solventum today announced that U.S. News & World Report is expanding its use of Solventum's  3M™ Ambulatory Potentially Preventable Complications  (AM-PPCs) software in the analysis of its 2024-2025 Best Hospitals rankings.

ST. PAUL, Minn., June 24, 2024 /PRNewswire/ -- Solventum (NYSE: SOLV), [formerly 3M Health Care] today announced a new artificial intelligence (AI)-driven payment integrity and revenue cycle solution, Solventum™ Revenue Integrity System.