For 2015, 3M anticipates earnings to be in the range of $8.00 to $8.30 per share with organic local currency sales growth of 3 to 6 percent.[I.e., the 3-6% figure strips out the effect of acquisitions, divestitures, and currency seings.]
…3M [reiterates] its 2013-17 financial objectives:
• Grow earnings per share 9 to 11 percent per year, on average
• Grow organic sales 4 to 6 percent per year, on average
• Achieve return on invested capital of approximately 20 percent
• Convert approximately 100 percent of net income to free cash flow
These announcements accompany an Investor Day webcast today.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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