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 reported third-quarter 2021 results with sales rising by 7.1% year-on-year to $8.9 billion. Organic local-currency sales increased by 6.3%, with consumer sales leading at 8.1%. Earnings per share remained flat at $2.45, while operating income fell to $1.8 billion with margins of 20.0%. The company updated its full-year guidance, expecting total sales growth of 9% to 10% and earnings per share between $9.70 and $9.90. Operational cash flow was strong at $1.9 billion, with $1.4 billion returned to shareholders.
Wrapmate, a digital platform for vehicle wraps, has partnered with Uplift to offer financing options for its customers. Since its launch, Wrapmate has integrated over 5,600 vehicles into its platform, allowing users to access specific pricing and design choices. Customers can pay as low as $74 monthly for wraps, typically costing $2,500, with terms ranging from 6 to 18 months. This initiative aims to mitigate the upfront costs that often deter small businesses from using vehicle wraps, which offer high advertising efficiency. 3M supports this venture to expand the graphics market.
3M has reached a collaborative agreement to resolve litigation related to per- and polyfluoroalkyl substances (PFAS) near its Decatur, Ala. facility. The agreement involves contributions of approximately $99M to support community initiatives and address legacy pollution. This includes funding for public recreational facilities and necessary environmental remediation at several local sites. The collaborative agreement aims to enhance the quality of life for Decatur residents while resolving legal disputes with the City of Decatur, Morgan County, and the Tennessee Riverkeeper organization.
3M announced its upcoming third-quarter 2021 earnings conference call scheduled for Tuesday, Oct. 26, 2021, at 8 a.m. CDT. Investors can join the call by dialing (800) 762-2596 in the U.S. or +1 (212) 231-2916 internationally. The call will be available via live webcast, and a replay can be accessed on 3M's Investor Relations website.
3M continues to leverage science to address global challenges, with further details available on their Investor Relations page.
3M's Scotch-Brite™ brand and Phylagen have launched the world's first consumer home cleaning efficacy test kit, Scotch-Brite™ Clean Scan. This product allows homeowners to assess microbial levels in kitchens and bathrooms. Users will receive lab-analyzed reports detailing the presence of harmful microbes, including bacteria and viruses. Initial testing indicated that 50% of homes still had human fecal matter post-cleaning. The test kit is available on Amazon for $249, with results provided within three days.
3M (NYSE: MMM) announced the evolution of its Bonding Process Centers located in St. Paul, USA; Neuss, Germany; and Shanghai, China, in response to the increasing trend of automation in manufacturing. The centers, previously known as the Global Adhesives Solutions Lab, now offer virtual consultations and live demos, connecting clients with 3M experts for customized bonding solutions. The global industrial control and factory automation market is projected to grow from $133.1 billion in 2021 to $197.8 billion by 2026. 3M invests 6% of its revenue in R&D to drive innovation and support its customers' automation journeys.
3M has announced the expansion of its boron nitride cooling filler line to enhance thermal management in automotive, electrical, and electronic devices. The new products, CFA 100 and CFA 150, consist of soft boron nitride agglomerates that improve thermal conductivity while being less abrasive on equipment. These fillers can be integrated into various applications, such as potting resins and thermal interface materials, aiding in the effective heat dissipation essential for modern electronics like smartphones and electric vehicles.
3M (NYSE: MMM) announced a new patent license agreement with Luxshare Technology for its Twin Axial Cable technology. This collaboration aims to enhance flexibility for server designers using high-speed data I/O cables in cloud and enterprise applications. Luxshare has acquired a global royalty-bearing patent license, aligning with its strategy to develop innovative, high-density interconnect solutions. The 3M Twin Axial Cable is notable for its thin design and capability to operate effectively up to 40GHz, offering potential cost savings in server applications.
3M is donating essential school supplies to support 17,000 students in low-income areas as they return to the classroom this fall. In collaboration with the St. Paul Public School District and the Kids in Need Foundation, 3M is distributing various supplies, including Scotch® Glue Sticks and Post-it® Notes. The company has allocated $500,000 to DonorsChoose to support teachers creating classroom projects. Additionally, 3M has donated over $28 million in products through its 3Mgives initiative, demonstrating its commitment to education and community support.
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