May 8 (Reuters) - 3M spin-off Solventum ( SOLV ) beat
analysts' estimate for first-quarter profit on Thursday, helped
by higher sales of its wound care, sterilization products.
The Minnesota-based company is one of the largest providers
of sterilization devices, wound dressings, medical tape and
other hospital consumables used by healthcare facilities.
Solventum ( SOLV ) also raised its annual organic sales growth
forecast up 1.5% to 2.5% from prior forecast of up 1.0% to 2.0%.
The forecast includes its purification and filtration
segment, the company said.
The company's MedSurg business, which provides wound
dressings and surgical equipment, makes more than half of its
total revenue. Sales in this segment were $1.16 billion during
the quarter.
The company continues to expect annual profit per share in
the range of $5.45 to $5.65.
It reported total net sales of $2.1 billion for the quarter,
a 2.6% rise from a year earlier.
Solventum ( SOLV ) posted an adjusted profit of $1.34 per share for
the quarter ended March 31, compared with analysts' average
estimate of $1.22 per share, according to data compiled by LSEG.