By Will Feuer
3M’s soon-to-be-spun-off healthcare division is hosting its inaugural investor day and warning that organic revenue could fall this year.
The healthcare business, called Solventum and set to spin off next month, is guiding for revenue to be flat to down 2% this year. The business is targeting annual adjusted earnings of $6.10 a share to $6.40 a share.
Chief Executive Bryan Hanson and Chief Financial Officer Wayde McMillan will share their post-spin plans for the company.
Once the April 1 spinoff is complete, Solventum is expected to trade on the New York Stock Exchange under the ticker SOLV. The new company will include 3M’s products in markets such as wound care, health care information technology and biopharma filtration.
The spinoff, first announced in 2022, will separate 3M’s relatively faster-growing business in health care from its other lagging segments, such as industrial and consumer products.
Write to Will Feuer at Will.Feuer@wsj.com