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  6. Solventum Corporation (SOLV)

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Solventum Corporation

Solventum Corporation (SOLV)

SolVBL Solutions Inc
Solvac SA
59.86
-0.59
(-0.98%)
Closed May 28 4:00PM
Delayed by 15 minutes
59.48
-0.38
(-0.63%)
After Hours: 5:52PM
Delayed by 15 minutes

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SOLV News

Official News Only

Form 8-K - Current report
Edgar (US Regulatory)
May 17 2024
SOLV (-0.98%)

Form 4 - Statement of changes in beneficial ownership of securities
Edgar (US Regulatory)
May 15 2024
SOLV (-0.98%)

Form 4 - Statement of changes in beneficial ownership of securities
Edgar (US Regulatory)
May 15 2024
SOLV (-0.98%)

Form 4 - Statement of changes in beneficial ownership of securities
Edgar (US Regulatory)
May 15 2024
SOLV (-0.98%)

Form 4 - Statement of changes in beneficial ownership of securities
Edgar (US Regulatory)
May 15 2024
SOLV (-0.98%)

Form 10-Q - Quarterly report [Sections 13 or 15(d)]
Edgar (US Regulatory)
May 10 2024
SOLV (-0.98%)

Form 8-K - Current report
Edgar (US Regulatory)
May 09 2024
SOLV (-0.98%)

SOLV Discussion

View Posts
KingOfSwing...Trading KingOfSwing...Trading 6 days ago
Thank for the excellent post. Very useful.
👍️0
DewDiligence DewDiligence 3 weeks 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 2 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 2 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 2 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 2 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 3 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 3 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 3 months ago
SOLV is holding an Investor Day webcast 3/19/24 at 9am ET.
👍️0
DewDiligence DewDiligence 3 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 3 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 3 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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