Replies to post #663 on 3M Company (MMM)

[DewDiligence]

3M 1Q24 CC transcript:

https://finance.yahoo.com/news/q1-2024-3m-co-earnings-045004671.html

[DewDiligence]

Barron’s—>3M has turned_the_corner_and_is_now_a strong buy:

https://www.barrons.com/articles/buy-3m-stock-price-pick-4bc973b4

FWIW

[DewDiligence]

3M—(+20%)—reports 2Q24 results—raises 2024 EPS guidance:

https://investors.3m.com/news-events/press-releases/detail/1854/3m-delivers-strong-second-quarter-results-company-updates

Today is shaping up to be the largest single-day % gain for 3M shares since the 1980s!

3M spun off its healthcare segment into the new company, Solventum (Nasdaq: SOLV) on 4/1/24, so 3M’s 2Q24 results and 2024 guidance no longer include that business segment.

New non-GAAP EPS guidance is $7.00-7.30, up $0.50 from the prior range of $6.80-7.30. (Non-GAAP EPS excludes the cost of the announced earplug and PFAS settlements and related legal expenses.)

3M reiterated guidance for 2024 sales growth of -0.25% to +1.75% and for organic sales growth of 0-2.0%. (Organic sales growth excludes the effect of acquisitions, divestitures, and exchange rates.)


CC slides:
https://d1io3yog0oux5.cloudfront.net/_142360f796ba67379326101abd746104/3m/db/3222/30879/presentation/Q2+2024+Earnings+Presentation.pdf
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2Q24 financial statements:
https://d1io3yog0oux5.cloudfront.net/_142360f796ba67379326101abd746104/3m/db/3222/30879/financial_statement/Q2+2024+Supplemental+Financial+Schedules.pdf