Solventum (SOLV) reported a net loss of US$ 12 million in the third quarter of 2026, compared with net income of US$ 1.3 billion in the same period of 2025. GAAP earnings per share (EPS) were US$ (0.07), versus US$ 7.22 a year earlier, when the company booked a US$ 1.5 billion gain on the sale of its purification and filtration business. Higher restructuring costs in 2026 also weighed on the accounting result.
Revenue was US$ 1,949 million, down 7.0% from 3Q25. Organic sales (which exclude currency, acquisitions and divestitures) fell 2.8%. According to the company, the result reflects the expected impact of 630 basis points from pull-forward orders in the second quarter, placed ahead of the planned switch of its enterprise resource planning (ERP) system.
Adjusted earnings per share (non-GAAP, which excludes items the company considers non-recurring) were US$ 1.45, down 3.6% from US$ 1.50. Adjusted operating margin was 19.9%, versus 20.6%. Operating cash flow was US$ 177 million and free cash flow was US$ 97 million, helped by an IEEPA tariff refund.
By segment, Advanced Wound Care had revenue of US$ 528 million (up 8.9%) and Health Information Systems, US$ 356 million (up 3.3%). Infection Prevention and Surgical Solutions totaled US$ 683 million (down 5.3%) and Dental Solutions, US$ 317 million (down 6.7%).
For 2026, Solventum expects organic sales growth near the top of the 2.5% to 3.0% range. It raised its adjusted EPS guidance to US$ 7.20 to US$ 7.30, from US$ 7.10 to US$ 7.20, and maintained its free cash flow guidance of between US$ 200 million and US$ 300 million.
