Reported sales increased 0.4% to $2.082 billion ; organic sales increased 0.
3% GAAP Earnings Per Share (EPS) of $0.70 ; adjusted EPS 1 of $1.64 Generated $169 million in cash from operations; free cash flow 1 of $76 million Raises full-year 2024 organic sales growth, adjusted EPS and free cash flow guidance ST.
PAUL, Minn. , Nov. 7, 2024 /PRNewswire/ -- Solventum (NYSE: SOLV ) today reported financial results for the third quarter ended September 30, 2024 .
"We have now delivered consecutive quarters of outperformance against our expectations, and based on these results, we are again raising our full-year guidance," said Bryan Hanson, chief executive officer, Solventum. "It has been an exciting start, and we are confident that our three-phased approach will drive long-term growth and significant value creation." Third Quarter 2024 Financial Results Reported and organic sales growth reflect the expected normalization of pricing.
By segment, organic sales growth was primarily driven by the MedSurg and Health Information Systems segments, partially offset by the Dental Solutions and Purification and Filtration segments. GAAP and adjusted operating income margin declined due to lower gross margins, including the impact from the 3M supply agreement mark-up, and an increase in operating expenses related to public company stand-up costs and growth investments. Full-Year 2024 Guidance Solventum is raising its full-year 2024 guidance Organic sales growth to the upper half of 0% to +1.
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