Aug 7 (Reuters) - Medical device maker Solventum ( SOLV )
raised full-year adjusted profit forecast on Thursday,
driven by strong sales of its wound care and surgical
sterilization products alongside lower expenses.
Medical device makers have benefited from a surge in demand
as more people, particularly older Americans, seek health care
services and surgical procedures.
Minnesota-based Solventum ( SOLV ) is one of the largest providers of
sterilization devices, wound dressings, medical tape and other
hospital consumables used by healthcare facilities.
More than half of its revenue comes from its MedSurg
business, which provides wound dressings and surgical equipment.
Sales in the segment rose 4.8% to $1.22 billion during the
quarter.
Earlier in the day, Solventum's ( SOLV ) peer Zimmer Biomet Holdings ( ZBH )
also raised its annual profit forecast as it anticipates
lower-than-expected tariff impact.
Last quarter, Solventum ( SOLV ) estimated tariff headwinds of $80
million to $100 million for 2025, translating to an earnings per
share impact of 35 cents to 45 cents.
However, analysts now note that Solventum's ( SOLV ) tariff risk has
eased following the recent de-escalation of U.S.-China trade
tensions.
The company now expects its 2025 adjusted profit per share
to be in the range of $5.80 to $5.95, compared with previously
projected adjusted profit of $5.45 to $5.65.
On an adjusted basis, the company earned second-quarter
profit per share of $1.69, compared with analysts' average
estimates of $1.44, according to data compiled by LSEG.