Solventum's second-quarter profit falls 70% on higher expenses [Yahoo! Finance Canada]
Can-Fite Biopharma Ltd Sponsored ADR (Israel) (CANF)
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Source: Yahoo! Finance Canada
(Reuters) - 3M spin-off Solventum's second-quarter profit fell more than 70% on Thursday, hurt by limited sales growth of its wound care and surgical sterilization products and higher expenses, as it navigates functioning as a newly independent company. These were Solventum's first financial results as an independent company. Its first-quarter results were prepared on a "carve-out" basis from 3M's healthcare business. In its first-quarter earnings, the company had warned that it expected stand-up functional expenses to increase for the rest of the year. Total operating expenses rose about 11%, to $1.84 billion, for the second quarter. ADVERTISEMENT Minnesota-based Solventum is one of the largest providers of sterilization devices, wound dressings, medical tape and other hospital consumables used by healthcare facilities. Its net income fell over 70% in the reported quarter to $89 million, or 51 cents per share, from $321 million, or $1.86 per share, a year earlier. Tota
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CANF
Sec Filings
- 9/16/24 - Form 6-K
- 9/9/24 - Form EFFECT
- 9/6/24 - Form 424B3
- CANF's page on the SEC website