The Rising Influence of Rising Affluence

[DewDiligence]

3M maintains 2017 guidance—reports so-so 4Q16 results:

http://finance.yahoo.com/news/post-maker-3ms-quarterly-profit-130128821.html

3M Co, the maker of Scotch tape and Post-it notes, reported on Tuesday better-than-expected quarterly profit, as the company kept a tight lid on costs.

…Net income attributable to the company rose to $1.15 billion, or $1.88 per share, in the quarter, from $1.04 billion, or $1.66 per share, a year earlier. Net sales rose 0.4 percent to $7.33 billion.

…St. Paul, Minnesota-based 3M reaffirmed its 2017 GAAP] earnings forecast of $8.45 to $8.80 per share and organic local currency sales growth of 1 percent to 3 percent.

I’ve previously commented on how silly it is that every newswire story about 3M has to mention Scotch tape and Post-it notes.

2017 guidance broken down by division is in the link at the bottom of #msg-127211440.

4Q16 PR:
http://finance.yahoo.com/news/3m-reports-fourth-quarter-full-123000681.html

CC slides:
http://s2.q4cdn.com/974527301/files/doc_financials/2016/Q4/Q4-2016-Earnings-Slides.pdf