Solventum Corp. Files Q3 2024 10-Q
Ticker: SOLV · Form: 10-Q · Filed: 2024-11-08T00:00:00.000Z
Sentiment: neutral
Topics: spin-off, healthcare, medical-devices, financials
Related Tickers: MMM
TL;DR
Solventum's Q3 10-Q is in, showing performance for the new medical tech spin-off.
AI Summary
Solventum Corp. reported its financial results for the period ending September 30, 2024. The company, formerly part of 3M Health Care Co., is a new entity focused on surgical and medical instruments. Specific financial figures for the third quarter and year-to-date periods are detailed within the filing.
Why It Matters
This filing provides crucial financial performance data for Solventum Corp., a newly independent company, offering insights into its operational health and market position.
Risk Assessment
Risk Level: medium — As a newly formed entity, Solventum faces inherent risks related to its independence and market establishment.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is provided.)
- 2024-01-01 — Year-to-Date Start Date (Marks the beginning of the fiscal year for year-to-date financial comparisons.)
Key Players & Entities
- Solventum Corp. (company) — Filer of the 10-Q
- 3M Company (company) — Former parent company
- 3M Health Care Co. (company) — Former name
- 2024-09-30 (date) — End of reporting period
FAQ
What is the primary business of Solventum Corp. as indicated by its SIC code?
Solventum Corp.'s Standard Industrial Classification (SIC) code is 3841, which corresponds to 'Surgical & Medical Instruments & Apparatus'.
When was Solventum Corp. formerly known as?
Solventum Corp. was formerly known as 3M Health Care Co., with a date of name change on February 3, 2023.
What is the SEC file number for this filing?
The SEC file number for this 10-Q filing is 001-41968.
What is the state of incorporation for Solventum Corp.?
Solventum Corp. is incorporated in Delaware (DE).
What is the fiscal year end for Solventum Corp.?
Solventum Corp.'s fiscal year ends on December 31 (1231).
From the Filing
0001964738-24-000044.txt : 20241108 0001964738-24-000044.hdr.sgml : 20241108 20241108155745 ACCESSION NUMBER: 0001964738-24-000044 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 87 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241108 DATE AS OF CHANGE: 20241108 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Solventum Corp CENTRAL INDEX KEY: 0001964738 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 922008841 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-41968 FILM NUMBER: 241440314 BUSINESS ADDRESS: STREET 1: C/O 3M COMPANY STREET 2: 3M CENTER, BUILDING 275-6W-02 CITY: ST. PAUL STATE: MN ZIP: 55144-1000 BUSINESS PHONE: 651-733-1110 MAIL ADDRESS: STREET 1: C/O 3M COMPANY STREET 2: 3M CENTER, BUILDING 275-6W-02 CITY: ST. PAUL STATE: MN ZIP: 55144-1000 FORMER COMPANY: FORMER CONFORMED NAME: 3M Health Care Co DATE OF NAME CHANGE: 20230203 10-Q 1 solv-20240930.htm 10-Q solv-20240930 FALSE 2024 Q3 0001964738 12/31 P18M P3Y P3Y P5Y P7Y P10Y P30Y P40Y P18M xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure solv:operatingSegment solv:series solv:plan solv:country solv:lawsuit solv:classAction solv:case solv:quiTamAction solv:employee 0001964738 2024-01-01 2024-09-30 0001964738 2024-09-30 0001964738 us-gaap:ProductMember 2024-07-01 2024-09-30 0001964738 us-gaap:ProductMember 2023-07-01 2023-09-30 0001964738 us-gaap:ProductMember 2024-01-01 2024-09-30 0001964738 us-gaap:ProductMember 2023-01-01 2023-09-30 0001964738 solv:SalesOfSoftwareAndRentalsMember 2024-07-01 2024-09-30 0001964738 solv:SalesOfSoftwareAndRentalsMember 2023-07-01 2023-09-30 0001964738 solv:SalesOfSoftwareAndRentalsMember 2024-01-01 2024-09-30 0001964738 solv:SalesOfSoftwareAndRentalsMember 2023-01-01 2023-09-30 0001964738 2024-07-01 2024-09-30 0001964738 2023-07-01 2023-09-30 0001964738 2023-01-01 2023-09-30 0001964738 2023-12-31 0001964738 us-gaap:CommonStockMember 2024-06-30 0001964738 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001964738 us-gaap:RetainedEarningsMember 2024-06-30 0001964738 solv:NetParentInvestmentMember 2024-06-30 0001964738 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0001964738 2024-06-30 0001964738 us-gaap:RetainedEarningsMember 2024-07-01 2024-09-30 0001964738 solv:NetParentInvestmentMember 2024-07-01 2024-09-30 0001964738 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2024-09-30 0001964738 us-gaap:AdditionalPaidInCapitalMember 2024-07-01 2024-09-30 0001964738 us-gaap:CommonStockMember 2024-09-30 0001964738 us-gaap:AdditionalPaidInCapitalMember 2024-09-30 0001964738 us-gaap:RetainedEarningsMember 2024-09-30 0001964738 solv:NetParentInvestmentMember 2024-09-30 0001964738 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-09-30 0001964738 us-gaap:CommonStockMember 2023-06-30 0001964738 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001964738 us-gaap:RetainedEarningsMember 2023-06-30 0001964738 solv:NetParentInvestmentMember 2023-06-30 0001964738 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-06-30 0001964738 2023-06-30 0001964738 solv:NetParentInvestmentMember 2023-07-01 2023-09-30 0001964738 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-01 2023-09-30 0001964738 us-gaap:CommonStockMember 2023-09-30 0001964738 us-gaap:AdditionalPaidInCapitalMember 2023-09-30 0001964738 us-gaap:RetainedEarningsMember 2023-09-30 0001964738 solv:NetParentInvestmentMember 2023-09-30 0001964738 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-09-30 0001964738 2023-09-30 0001964738 us-gaap:CommonStockMember 2023-12-31 0001964738 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001964738 us-gaap:RetainedEarningsMember 2023-12-31 0001964738 solv:NetParentInvestmentMember 2023-12-31 0001964738 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001964738 us-gaap:RetainedEarningsMember 2024-