3M Company (MMM)

[DewDiligence]

3M issues 2019 and 5-year guidance:

http://s2.q4cdn.com/974527301/files/doc_presentations/2018/11/2018-Investory-Day-Press-Release-vFINAL.PDF

3M’s new five-year financial objectives—covering 2019 through 2023—are:

• 3 to 5 percent organic local currency sales growth
• 8 to 11 percent growth in earnings per share
• 20 percent return on invested capital
• 100 percent free cash flow conversion

In addition to its five-year goals, 3M will also outline its expectations for 2019:

• 1 to 3 percent total sales growth
• 2 to 4 percent organic local currency sales growth
• Earnings per share of $10.60 to $11.05 ( 20 to 25 percent EPS growth, on a GAAP basis; 7 to 11 percent EPS growth, adjusting for certain 2018 items)
• 22 to 25 percent return on invested capital
• 95 to 105 percent free cash flow conversion (based on operating cash flow of $7.9 to $8.5 billion).

3M is holding an Investor Day webcast today.