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3M spin-off Solventum's second-quarter profit fell more than 70% on Thursday, hurt by limited sales growth of its wound care and surgical sterilization products and higher expenses, as it navigates functioning as a newly independent company.

Separation activities and business continuity on track Reported sales increased 0.2% to $2.081 billion; organic sales increased 1.3% GAAP Earnings Per Share (EPS) of $0.51; adjusted EPS1 of $1.56 Generated $355 million in cash from operations; free cash flow1 of $297 million Raises full-year 2024 organic sales growth and adjusted EPS guidance ST. PAUL, Minn.