3M Company - MMM STOCK NEWS

3M (NYSE: MMM) announced its fourth-quarter and full-year 2022 results, reporting a 0.4% organic growth which fell short of the 1-3% expectation. The company's adjusted earnings were $2.28 per share, while GAAP EPS was $0.98. Full-year sales totaled $34.2 billion, a 3% decline year-on-year. Challenges included inflation, global conflicts, and a sharp decline in consumer markets, particularly in China. For 2023, 3M anticipates adjusted earnings per share between $8.50 and $9.00, with expected -6% to -2% sales growth due to ongoing market pressures.

3M (NYSE: MMM) launched a documentary film titled "Skilled" aimed at promoting trades careers and breaking stereotypes. Debuting at the Sundance Film Festival on January 22, 2023, the film features four tradespeople and will be available for streaming on May 3. 3M's initiative targets increasing awareness and educational access in skilled trades, with a goal to create 5 million unique learning experiences by 2025. The research shows broad support for the trades, with nine in 10 believing more individuals should pursue such careers. 3M is collaborating with Teach For America to further this agenda by screening the documentary in classrooms.

3M and Discovery Education have launched the Young Scientist Challenge Alumni Network and Alumni Grants Program aimed at supporting past participants and future science leaders. This initiative is part of the 3M Young Scientist Challenge, a competition for middle school students to win a mentorship with a 3M scientist and a $25,000 grand prize. The Alumni Network provides networking opportunities and resources while the Alumni Grants program will award a total of $25,000 annually to ten former finalists. The grant applications are open until March 23, 2023, with funding available for projects related to participants' original creations and community initiatives.

3M, in collaboration with Discovery Education, has launched the Young Scientist Challenge Alumni Network and Alumni Grants Program. This initiative aims to support former participants of the Young Scientist Challenge by offering additional networking opportunities, resources, and funding for their scientific projects. The program will award $25,000 annually in grants to ten alumni, divided into three funding categories: $5,000 for project continuations, $2,500 for new ideas, and $1,000 for community science initiatives. Applications are open until March 23, 2023. This effort continues 3M's commitment to fostering future science leaders.

3M has addressed supply chain challenges by developing a process at its Springfield, Missouri plant to qualify alternate raw materials. Faced with supplier backorders in 2021, a multidisciplinary team explored options to substitute single-source materials. The initiative successfully updated over 1,500 products, reducing backorders by more than $5 million in just four months. This coordinated effort not only provides business continuity but also enhances supply chain flexibility and service to customers. Similar processes are being implemented in other 3M plants worldwide.

3M has announced its fourth-quarter 2022 earnings conference call scheduled for January 24, 2023, at 8 a.m. CST. Investors can join the call by dialing (800) 762-2596 within the U.S. or +1 (212) 231-2916 from abroad. The event will be accessible via live webcast, and a replay will be available on 3M's Investor Relations website. 3M continues to leverage science to innovate and address global challenges, showcasing its commitment to improving lives. For further information, visit 3M's Investor Relations page.

3M Health Information Systems and Edifecs have announced a collaboration to enhance the integration of technologies aimed at expediting the adoption of value-based payment models. This partnership combines 3M's healthcare payment methodologies with Edifecs' actuarial-driven templates to create a comprehensive solution for both payers and providers. Together, they aim to increase data transparency and improve patient outcomes by enabling advanced payment and accountability models. With nearly 60 years of combined experience, the solution addresses inefficiencies in the value-based care process.

3M showcased its innovative technologies at CES 2023, the world’s largest tech event. Key highlights include advancements in virtual reality with PICO VR headsets, collaboration on medical wearables such as the Gatorade Gx Sweat Patch with Epicore Biosystems, and contributions to the electric vehicle market with battery performance solutions. Additionally, 3M demonstrated the Post-it® App for Teams to support hybrid work.

Jayshree Seth, 3M's chief science advocate, participated in a panel on sustainability in consumer electronics.

3M is actively participating in a national initiative led by the White House to eliminate systemic barriers in STEMM (science, technology, engineering, mathematics, and medicine). This collaboration involves over 90 organizations and combines more than $1.2 billion in investments. As part of its commitment, 3M aims to provide 5 million STEMM learning experiences for underrepresented individuals by the end of the 2025-26 school year. This effort includes scholarships, fellowships, and initiatives to improve STEMM career awareness.