Nov 6 (Reuters) - Solventum SOLV.N raised its full-year adjusted profit forecast after topping its quarterly results on Thursday, as the healthcare company benefits from elevated demand for surgical procedures.
The company, spun off from 3M MMM.N in 2024, is one of the largest providers of sterilization devices, wound dressings, medical tape and other hospital consumables.
Solventum, which also unveiled a four-year program to lift growth, now expects its 2025 adjusted profit per share to be in the range of $5.98 to $6.08, compared with its prior forecast of $5.88 to $6.03.
Sales in the dominant MedSurg business, which provides wound dressings and surgical equipment, rose 2.1% to $1.21 billion during the quarter.
On an adjusted basis, the company reported a per-share profit of $1.50 for the third quarter, above analysts' average estimates of $1.42, according to data compiled by LSEG.
Total quarterly sales came in at $2.10 billion, compared to expectations of $2.09 billion.
The "Transform for the Future" is expected to generate about $500 million in annual savings once fully implemented and will cost roughly $500 million to execute, the company said.
Shares of the company were up about 2% in extended trading.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Sriraj Kalluvila)
((Kamal.Choudhury@thomsonreuters.com;))