Spin-off - Solventum Corp

Form Type: 10-Q

Filing Date: 2025-05-09

Corporate Action: Spin-off

Type: Update

Accession Number: 000196473825000051

Filing Summary: Solventum Corporation has filed its quarterly report for the period ending March 31, 2025. The company reported a net income of $137 million, down from $237 million in the same period last year. Total net sales reached $2.07 billion, a slight increase from $2.016 billion. The company incurred a gross profit of $1.114 billion but faced higher selling, general, and administrative expenses totaling $769 million. Furthermore, as a result of a comprehensive restructuring and the company's spin-off from 3M on April 1, 2024, significant changes in operations and liabilities are noticeable. Solventum agreed to sell its Purification and Filtration business to Thermo Fisher Scientific Inc. for $4.1 billion, which will impact its future financial position. The balance sheet shows total assets of $14.527 billion and total liabilities of $11.265 billion, indicating continued strong financial standings following the spin-off.