3M (MMM) PT Raised to $87 at RBC Capital

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Go back to 3M (MMM) PT Raised to $87 at RBC Capital

3M First-Quarter Results Driven by Strong Operational Performance; Company Initiates Full-Year 2024 Guidance Reflecting Completion of Solventum Spin

April 30, 2024 6:30 AM EDT

Company delivers strong first quarter results:Sales of $8.0 billion, down 0.3% YoY; adjusted sales of $7.7 billion with organic growth up ~1% YoYGAAP earnings per share of $1.67, down 5% YoY; adjusted earnings of $2.39, up double digits YoYSuccessfully completed the spin of Solventum on April 1stFinalized legal settlements for Public Water Suppliers and Combat Arms EarplugsInitiates guidance on a continuing operations basis and updates capital allocation frameworkNamed William "Bill" Brown as CEO effective May... More