Backs FY24 organic sales view down 2% to flat. Sees FY24 free cash flow $700M-$800M. The company said, “As communicated during the recent Investor Day, Solventum intends to prioritize debt paydown for approximately the next 24 months and has decided not to pay a cash dividend on its common stock or authorize the repurchase of shares at this time. The company will continue to assess its capital allocation plans for potential future actions.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SOLV:
- Solventum Reports First Quarter 2024 Financial Results and Capital Allocation Update
- Solventum initiated with an Equal Weight at Morgan Stanley
- Solventum initiated with an Equal Weight at Wells Fargo
- One new option listing and five option delistings on April 4th
- Solventum initiated with a Buy at Spin-Off Research