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.
On February 14, 2022, 3M announced its 2022 financial outlook, projecting total sales growth of 1% to 4%, including organic growth of 2% to 5%. The company expects earnings per share between $10.15 and $10.65, despite a predicted 2 percentage point decline in organic growth due to reduced demand for COVID-19-related respirators. 3M emphasized its commitment to innovation, sustainability, and a $1 billion investment over 20 years to achieve carbon neutrality. Notable investments include $165 million for water quality improvements at its Cottage Grove facility.
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3M (NYSE: MMM) announced the election of Suzan Kereere to its Board of Directors, effective February 10, 2022. This decision expanded the Board's size from 12 to 13 members. Kereere brings over 20 years of global business leadership experience, previously serving as Head of Global Business Solutions at Fiserv and holding roles at Visa and American Express. Her background includes significant achievements in driving growth and advocating for diversity and inclusion. 3M's chairman, Mike Roman, expressed confidence in Kereere's ability to offer valuable insights and leadership.
The 3M Board of Directors has declared a quarterly dividend of $1.49 per share for Q1 2022, payable on March 12, 2022, to shareholders of record on February 18, 2022. 3M has maintained uninterrupted dividend payments for over 100 years and has returned over $14 billion to shareholders in the past three years. This dividend declaration marks the 64th consecutive year of dividend increases, showcasing the company's commitment to returning value to its shareholders.
ST. PAUL, Minn., Feb. 8, 2022 /PRNewswire/ -- 3M™ M*Modal Fluency for Imaging has achieved the Best in KLAS 2022 title in the Speech Recognition Front-End, Imaging category. This AI-driven solution enhances clinical documentation and workflow for radiologists through advanced speech recognition and integrated productivity tools, ensuring accurate documentation. Garri Garrison, president of 3M Health Information Systems, emphasized the solution's ability to improve reporting speed and accuracy, affirming its competitive edge in healthcare.
3M reported its fourth-quarter and full-year 2021 results, highlighting a 10% growth in overall sales for the year, amounting to $35.4 billion. In Q4, sales reached $8.6 billion, up 0.3% year-on-year, with notable increases in Consumer (4.1%) and Health Care (0.7%) segments. However, sales declined in Transportation and Electronics (1.5%) and Safety and Industrial (2.2%). The Q4 earnings per share were $2.31, a 4% decrease from the previous year. 3M returned $1.8 billion to shareholders in Q4, including $848 million in dividends.
3M (NYSE: MMM) has scheduled a Virtual Strategic Update and 2022 Outlook Meeting for February 14, 2022, from 8-11 a.m. CST. Investors can access the event via webcast or by calling (800) 762-2596 in the U.S. and +1 (212) 231-2916 internationally.
The meeting will feature presentations from key executives, including CEO Mike Roman, and will cover 3M's strategic priorities and financial outlook for 2022, concluding with a Q&A session.
On January 13, 2022, 3M announced its ongoing efforts to provide access to N95 respirators amid the surge of the Omicron variant. The company ensures that its NIOSH-approved N95 masks filter out at least 95% of airborne particles, helping to protect users against viruses. 3M is the largest N95 manufacturer in the U.S., with plants in South Dakota and Nebraska. The press release also highlights the importance of proper fit and offers resources to combat counterfeit products, having already seized over 55 million fraudulent respirators. N95s are available at major retailers and online.
3M (NYSE: MMM) announced its fourth-quarter 2021 earnings conference call scheduled for January 25, 2022, at 8 a.m. CST. Investors can join the call by dialing (800) 762-2596 in the U.S. or +1 (212) 231-2916 internationally. The conference call will be accessible via live webcast, with a replay available on 3M's Investor Relations website.
3M focuses on applying science to enhance daily lives, collaborating globally to tackle challenges and deliver innovative solutions.
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