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 EPS 1 of $1.56 Generated $355 million in cash from operations; free cash flow 1 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 .
"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." Second Quarter 2024 Financial Results Reported and organic sales growth reflect the expected normalizing of pricing.
While volumes grew slightly, this included a benefit from a backorder improvement. By segment, organic sales growth was primarily driven by performance in our MedSurg and Health Information Systems segments, partially offset by results in our Dental Solutions and Purification and Filtration segments. GAAP and adjusted operating income margin declined due to lower gross margins and an increase in operating expenses related to public company and fun.