3M Company
- 3M Company declined 1.4% to $132.94 after the diversified industrial company reported its quarterly results.
Revenue in the third quarter increased 0.4% to $6.3 billion, net income attributable to shareholders swung to a profit of $1.4 billion from a loss of $2.1 billion, and diluted earnings per share were $2.49 billion compared to a loss of $3.74 a year ago.
The company revised its adjusted sales growth outlook to an increase of 1% from the previous estimate between a decline of 0.25% and an increase of 1.75%.
The company also estimated adjusted annual earnings per share to range between $7.20 and $7.30 from the previous estimate between $7.0 and $7.30.
Oct 22, 2024 - 3M declined 6.6% to $100.86 after the company estimated weak current quarter and full-year earnings estimates.
Revenue i the fourth quarter was flat at $8.0 billion, net income jumped to $945 million from $541 million, and diluted earnings per share rose to $1.70 from 98 cents a year ago.
The diversified conglomerate estimated earnings per share in the first quarter between $2.0 and $2.15 and for the full year between $9.35 and $9.75.
Jan 23, 2024 - 3M Company rose 4.6% to $109.26 after the diversified company reported better-than-expected quarterly earnings and the company reiterated its annual sales outlook and revised higher its annual earnings estimate.
Second quarter revenue declined 4.5% to $8.3 billion and the company swung to a net loss of $6.8 billion from a profit of $78 million and diluted earnings per share of ($12.35) from 14 cents a year ago.
The current quarter results included the settlement charge related to the public water system of $14.19 billion.
The settlement still needs approval from a judge and the payment will be made over 13 years.
The company said it will halt production of PFAS chemicals by the end of 2025.
Per- and polyfluorinated substances, known collectively as PFAS or "forever chemicals" were used by firefighters in training sessions around the country at airports, military bases and other facilities.
The training exercises used foams laced with high concentration of PFAS, said one of the lead attorneys, Scott Summy, suing 3M and other companies to Associated Press.
3M raised its full-year 2023 adjusted earnings per share expectations to $8.60 to $9.10 from the previous estimate between $8.50 and $9.00.
The company said adjusted total sales growth in the range of -5% to -1%, reflecting adjusted organic sales growth of -3% to flat, which remains unchanged.
3M forecasted adjusted operating cash flow for the year 2023 between $5.9 billion to $6.3 billion contributing to 90% to 100% adjusted free cash flow conversion, which remains unchanged.
Jul 25, 2023 - 3M Company said fourth quarter revenues fell 6% to $8.1 billion and net income dropped to $541 million from $1.3 billion and diluted earnings per share dropped to 98 cents from $2.31 a year ago.
Jan 24, 2023
| Year | Mar | Jun | Sep | Dec | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 1.76 | -12.35 | -3.74 | - | - | |
| 2022 | 2.26 | 0.14 | 6.77 | 1.01 | 10.18 | |
| 2021 | 2.77 | 2.59 | 2.45 | 2.31 | 10.12 | |
| 2020 | 2.22 | 2.22 | 2.43 | 2.38 | 9.36 | |
| 2019 | 1.51 | 1.92 | 2.72 | 1.66 | 7.81 | |
| 2018 | 0.98 | 3.07 | 2.58 | 2.26 | 8.89 | |
| 2017 | 2.16 | 2.58 | 2.33 | 2.10 | 9.17 | |
| 2016 | 2.05 | 2.08 | 2.15 | 1.88 | 8.16 | |
| 2015 | 1.85 | 2.02 | 2.05 | 1.80 | 7.72 | |
| 2014 | 1.79 | 1.91 | 1.98 | 1.81 | 7.49 | |
| 2013 | 1.61 | 1.71 | 1.78 | 1.62 | 6.72 | |
| 2012 | 1.59 | 1.66 | 1.65 | 1.42 | 6.32 | |
| 2011 | 1.49 | 1.60 | 1.52 | 1.35 | 5.96 | |
| 2010 | 1.29 | 1.54 | 1.53 | 1.27 | 5.63 | |
| 2009 | 0.74 | 1.12 | 1.35 | 1.31 | 4.52 | |
| 2008 | 1.38 | 1.33 | 1.41 | 0.77 | 4.89 | |
| 2007 | 1.85 | 1.25 | 1.32 | 1.18 | 5.6 | |
| 2006 | 1.17 | 1.15 | 1.18 | 1.56 | 5.06 | |
| 2005 | 0.97 | 0.96 | 1.08 | 0.97 | 3.98 |