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Sentiment · FY2026 Q2
On August 5, 2026, Solventum Corporation announced its intention to pursue a separation of its Health Information Systems business. A press release describing the announcement was furnished as Exhibit 99.1 to the filing.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jason Bednar | Piper Sandler | 12 (25%) |
| Travis Steed | Bank of America | 12 (17%) |
| Rick Wise | Stifel | 10 (0%) |
| David Roman | Goldman Sachs | 9 (22%) |
| Ryan Zimmerman | BTIG | 7 (0%) |
| Brett Fishbin | KeyBanc Capital Markets | 7 (0%) |
| Patrick Wood | UBS | 6 (33%) |
| Steve Valiquette | Mizuho Securities | 5 (0%) |
| Lei Huang | Wells Fargo | 5 (0%) |
| Vik Chopra | BMO Capital Markets | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Piper Sandler | 1 | 12 (25%) |
| Bank of America | 1 | 12 (17%) |
| Goldman Sachs | 2 | 10 (30%) |
| Stifel | 1 |
| 10 (0%) |
| UBS | 2 | 8 (25%) |
| KeyBanc Capital Markets | 1 | 7 (0%) |
| BTIG | 1 | 7 (0%) |
| Wells Fargo | 2 | 6 (0%) |
Solventum beat Q1 2026 expectations on both sales and EPS with 2.1% organic growth and non-GAAP EPS of $1.48 (up 11% year-over-year), nudging full-year EPS guidance toward the high end of $6.40-$6.60. Gross margin expanded 80 basis points to 56.4%, and the company repurchased 923K shares while the separation neared completion. An expected $100M+ Q2 ERP pre-buy was flagged, autonomous coding gained traction as a growth driver, and portfolio optimization continued.
Revenue Growth | Margin | Supply Chain | Capital Allocation | M&A | Competitive Dynamics | Cost Pressure | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 2 | 3 | 3 | 2 | 2 | 2 | 1 |
| 2025Q1 | 5 | 1 | 1 | 1 | 3 | |||
| 2025Q2 | 6 | 2 | 2 | 3 | 2 | 2 | ||
| 2025Q3 | 3 | 3 | 1 | 1 | 2 | 1 | 2 | 2 |
| 2025Q4 | 7 | 3 | 3 | 2 | 2 | 3 | 3 | |
| 2026Q1 | 7 | 2 | 4 | 2 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4 | 5 | 6 | 3 | 7 | 7 |
| Margin | 2 | 1 | 2 | 3 | 3 | 2 |
| Supply Chain | 3 | 2 | 1 | 3 | 4 | |
| Capital Allocation | 3 | 3 | 1 | 2 | 2 | |
| M&A | 2 | 1 | 2 | 2 | 2 | 1 |
| Competitive Dynamics | 2 | 1 | 2 | 1 | 3 | |
| Cost Pressure | 2 | 2 | 3 | |||
| Trade Tariffs | 1 | 3 | 2 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.08B | +1.9% | $0.18 | -88.6% | 53.9% | 6.6% | 1.5% | $92M |
| FY2025 Q1 | $2.07B | +2.7% | $0.78 | -43.1% | 53.8% | 7.3% | 6.6% | $-80M |
| FY2025 Q2 | $2.16B | +3.8% | $0.51 | 0.0% | 54.4% | 9.9% | 4.2% | $59M |
| FY2025 Q3 | $2.10B | +0.7% | $7.22 | +931.4% | 56.2% | 6.5% | 60.4% | $-21M |
| FY2025 Q4 | $2.00B | -3.7% | $0.37 | +105.6% | 49.3% | 84.0% | 3.2% | $32M |
| FY2026 Q1 | $2.01B | -3.0% | $0.07 | -91.0% | 54.7% | 4.0% | 0.6% | $-273M |
| FY2026 Q2 | $2.21B | +2.2% | $0.53 | +3.9% | 58.2% | 8.2% | 4.2% | $144M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What SOLV and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Corporate was a 30 basis point headwind from planned wind down of Solventum transition services agreements.”
3M cited a corporate margin headwind from the planned wind-down of transition services agreements with spun-off Solventum.
“We're also very pleased with the progress we're making with our filtration and separation business, which we acquired from Solventum.”
Thermo Fisher reports smooth integration of the filtration and separation business it acquired from Solventum; read-through on Solventum's divestiture.
“Acera contributed $28 million to reported sales, which is reflected in the Advanced Wound Care business.”
Solventum's recently acquired Acera added $28M of Q1 sales in advanced wound care, an early proof point that the acquisition is integrating and contributing to growth.
“Our separation from 3M continues to progress; we have exited approximately 50% of the transition service agreements and are on pace to exit over 90% by the end of 2026.”
Solventum continues unwinding its operational separation from former parent 3M, having exited ~50% of transition service agreements with a target of over 90% by end of 2026.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
SOLV Solventum | 6 | -3.0% | |
| DVA DaVita | 7 | +6.0% | |
| HCA HCA Healthcare | 6 | +4.3% | |
| UHS Universal Health Services | 7 | +9.7% |