Welcome to our dedicated page for 3M Company news (Ticker: MMM), a resource for investors and traders seeking the latest updates and insights on 3M Company stock.
3M Company (NYSE: MMM), originally known as Minnesota Mining and Manufacturing, is a global conglomerate that has been a pivotal innovator since its inception in 1902. The company excels in leveraging science and technology to create a diverse range of products that impact various sectors. As of the second quarter of 2024, 3M is structured into three core business segments: Safety and Industrial, Transportation and Electronics, and Consumer. With nearly 50% of its revenue generated outside the Americas, 3M's Safety and Industrial segment leads in net sales.
3M is renowned for its robust research and development capabilities, which have led to significant innovations across multiple industries. Its portfolio includes tens of thousands of products such as adhesives, abrasives, laminates, and healthcare solutions, touching numerous consumer and end markets. The company’s recent achievements include the successful spin-off of its healthcare division into a new entity, Solventum, which began trading on the New York Stock Exchange under the ticker symbol 'SOLV' in April 2024. This strategic move is aimed at enhancing both companies' focus on their core businesses and long-term growth strategies.
Financially, 3M has shown resilience with improved operational performance and double-digit adjusted earnings growth in the first quarter of 2024. The company also completed major legal settlements, including a $10.3 billion agreement with U.S. public water suppliers and a $6.0 billion settlement for Combat Arms Earplugs litigation.
In addition to its financial and strategic developments, 3M continues to invest in expanding its manufacturing capabilities. A notable example is the recent $67 million expansion of its Valley, Nebraska, facility, which is expected to create about 40 new jobs and increase production capacity for personal safety products.
3M’s commitment to innovation and safety is also evident in its efforts to combat counterfeit personal protective equipment (PPE). The company launched the 3M™ Verify app to help ensure the authenticity of its disposable respirators, thereby safeguarding workers' health and safety.
As a company that believes in the power of science to create a brighter world, 3M is dedicated to addressing global challenges and improving lives through its innovative solutions.
3M's Scotch® Magic™ Tape has been voted the 'Coolest Thing Made in Minnesota' in a contest organized by the Minnesota Chamber of Commerce. The competition, which ran from September 3 to October 4, saw over 100,000 votes cast across five rounds. Scotch Magic Tape triumphed over 63 other Minnesota-made products, including notable contenders like Red Wing Shoe Company's Beckman Boot and Hormel Foods' SPAM Classic.
Key facts about Scotch Magic Tape include:
- Produced at 3M's Hutchinson, Minnesota facility
- Appears frosted on the roll but becomes invisible when applied
- Precursor, Scotch Masking Tape, will celebrate its 100th anniversary in 2025
- The Hutchinson plant produces approximately 12 million miles of 3M tapes annually
3M has launched the WorkTunes Connect + Solar Hearing Protector, the first solar charging wireless Bluetooth hearing protector in the consumer market. This innovative headset uses Powerfoyle flexible solar cell technology to continuously charge with both indoor and outdoor light, offering all-day protection, comfort, and entertainment.
Key features include:
- Noise Reduction Rating (NRR) of 26 dB
- Built-in microphone for calls
- Intelligent background-noise reduction
- Water and sweat-resistant design
- Conformable ear cushions for comfort
The headset is designed for DIYers, hobbyists, and professionals, providing enhanced entertainment and communication while protecting against hazardous noise. It's available on Amazon.com for $169.99.
3M (NYSE: MMM) has announced an upcoming investor event. The company will hold its third-quarter 2024 earnings conference call on Tuesday, October 22, 2024, at 8 a.m. CT. This event will be webcast live, and a replay will be available on 3M's Investor Relations website at http://investors.3M.com.
This announcement provides investors and interested parties with the opportunity to stay informed about 3M's financial performance and future outlook. The earnings call is an important event for stakeholders to gain insights into the company's recent financial results and discuss any relevant business developments.
3M (NYSE: MMM) has announced that its near-term, science-based emissions reduction targets have been validated by the Science Based Targets initiative (SBTi) as aligning with the 1.5°C trajectory of the Paris Agreement. This validation strengthens 3M's commitment to climate action and decarbonization. The company's targets include:
1. Reducing absolute scope 1 and 2 greenhouse gas emissions by 52.6% by 2030 from a 2019 baseline.
2. Reducing absolute scope 3 emissions by 42% by 2030 from a 2021 baseline.
This marks 3M's first scope 3 GHG emissions target, a significant milestone for the diverse, global company. 3M has been documenting and reporting scope 1 and 2 inventory since 2002 and developing its scope 3 emissions inventory since 2011.
3M has launched the 3M™ WorkTunes™ Connect + Solar Hearing Protector, the first solar charging wireless Bluetooth hearing protector in the consumer market. This innovative headset uses Powerfoyle™ flexible solar cell technology, allowing continuous charging with both indoor and outdoor light for all-day protection, comfort, and entertainment.
Key features include:
- Noise Reduction Rating (NRR) of 26 dB
- Built-in microphone for easy phone calls
- Intelligent background-noise reduction
- Water and sweat-resistant design
- Conformable ear cushions for comfort
The product is available on Amazon.com for $169.99, targeting DIYers, hobbyists, and professionals seeking hearing protection with enhanced entertainment and communication features.
3M has launched a new docuseries called 'Green Works' to highlight the importance of green jobs in combating climate change. The series features five individuals working in various sectors of the green economy, including renewable energy, electric vehicles, climate education, reforestation, and sustainable fashion.
The docuseries aligns with findings from 3M's State of Science Insights study, which revealed that 75% of people believe green jobs are important for addressing climate change. To support the green transition, 3M is partnering with Work on Climate, a nonprofit organization that helps professionals find green jobs and offers resources for career development in the sustainability sector.
Additionally, 3M is promoting Climate Action Pathways for Schools (CAPS), a program that empowers students to work on paid sustainability projects, preparing them for green careers while driving immediate change in their communities. The company encourages students, teachers, and the general public to explore resources for green career development and learn about the future landscape of green jobs.
3M has launched the second season of 'Clash of the Grinders', a video series featuring a metalworking and welding competition. The event, held in Minneapolis this summer, brought together 12 contestants from welding schools across the United States to compete for a $15,000 grand prize. The series, consisting of eight episodes, will air weekly through November 12 on YouTube.
This season focuses on the personal stories of competitors, showcasing their skills and introducing them to top 3M™ Cubitron™ 3 and Scotch-Brite™ abrasives. The competition aims to raise awareness of welding and skilled trades as rewarding career paths, addressing the current shortage of over 400,000 welders in the U.S. The event was supported by partnerships with 3M Gives, National Coalition of Certification Centers, Weld.com, Linde, and guest host Nate Bowman.
3M premieres 'Green Works', a global docuseries spotlighting individuals in green jobs addressing climate challenges. The film, debuting at the 2024 Fast Company Innovation Festival, features five professionals from diverse backgrounds working in renewable energy, electric vehicles, climate education, reforestation, and sustainable fashion. 3M aims to raise awareness about opportunities in the green economy and inspire more professionals to join the effort.
The company is collaborating with Work on Climate to provide resources for professionals interested in green careers. 3Mgives is funding various organizations globally to support green career development. During New York Climate Week, 3M will emphasize the need to accelerate the green jobs transition through a film screening and panel discussion at The Nest Climate Campus on September 24, 2024.
3M's innovative Passive Radiative Cooling Film played a important role in a record-setting solar-powered car journey across the US. The film, which reflects solar energy and radiates heat back into the sky, was applied to select spots on the vehicle 'Sunstrider', significantly cooling the driver's cockpit. The four-man team from Michigan completed the coast-to-coast route in 13 days, 15 hours and 19 minutes, setting a new record for solar vehicles.
Beyond this achievement, 3M is exploring applications for the film in various settings, including warehouses, data centers, and public spaces. Researchers at Arizona State University are partnering with Phoenix to validate the film's impact on cooling public areas. The technology has also shown promise in reducing refrigeration costs when applied to a Minneapolis grocery store roof.
3M celebrates the 10-year anniversary of its 3M Xtract™ Cubitron™ II Film Disc 775L, hailed as the best sanding disc ever made by the company. This innovative product has revolutionized metalworking applications with its exceptional performance and durability. The disc features advanced technology, including 3M Precision-Shaped Grain, which delivers industry-leading cut rates and allows for virtually dust-free sanding.
Designed for maximum productivity and longevity, the 775L has consistently outperformed competitors and become the preferred choice for professionals worldwide. Its unique blend of cutting-edge technology and precision engineering ensures superior results with minimal effort. As 3M marks this milestone, they acknowledge the disc's impact on sanding productivity levels and express gratitude to customers and partners who have made it their go-to solution for a decade.
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