• Gross sales of $6.3 billion, unwell 0.5% YoY
• Adjusted gross sales of $6.0 billion with natural expansion up 1.2% YoY
• GAAP EPS from proceeding operations of $2.17, up 117% YoY
• Adjusted EPS from proceeding operations of $1.93, up 39% YoY
• Working money tide of $1.0 billion with adjusted distant money tide of $1.2 billion
• Updates full-year 2024 adjusted EPS from proceeding operations to $7.00 to $7.30 from $6.80 to $7.30

ST. PAUL, Minn., July 26, 2024 /PRNewswire/ — 3M (NYSE: MMM) these days reported second-quarter effects.

“We delivered another strong quarter with adjusted earnings growth up double-digits and robust cash generation. I want to thank 3M employees for their exceptional execution, which we expect to continue in the second half of the year,” stated William Brown, 3M Well-known Government Officer. “As I look ahead, I am focused on three priorities: driving sustained organic revenue growth, increasing operational performance, and effectively deploying capital. I have long admired 3M’s track record of innovation and am excited to be leading this great company and by the opportunities ahead.”

2nd-Quarter Highlights:

• GAAP EPS of $2.17 and running margin of 20.3%.
• Adjusted EPS of $1.93, up 39% year-on-year.
• Adjusted running source of revenue margin of 21.6%, an building up of four.4 share issues year-on-year.

• Gross sales of $6.3 billion, unwell 0.5% year-on-year, with natural gross sales unwell 0.3% year-on-year.
• Adjusted gross sales of $6.0 billion, up 1.1% year-on-year with adjusted natural gross sales up 1.2% year-on-year.
• Working money tide of $1.0 billion; adjusted distant money tide of $1.2 billion.
• 3M returned $786 million to shareholders by way of dividends and proportion repurchases.

This record contains connection with sure non-GAAP measures. See the “Supplemental Financial Information Non-GAAP Measures” category for acceptable data.

Up to date Complete-While 2024 Income Outlook

3M up to date its full-year adjusted income expectancies given the corporate’s sturdy operational execution within the first part of the 12 months. The 2024 income outlook beneath displays the ongoing operations of 3M.

Convention Name

3M will behavior an investor teleconference at 9 a.m. EDT (8 a.m. CDT) these days. Traders can get right of entry to this convention by way of please see:

Consolidated Monetary Statements and Supplemental Monetary Data Non-GAAP Measures

View the Monetary Commentary Data on 3M’s website online: https://investors.3m.com/financials/quarterly-earnings

Ahead-Taking a look Statements

This information let fall comprises forward-looking statements. You’ll determine those statements by means of the importance of phrases similar to “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “would,” “forecast” and alternative phrases and phrases of homogeneous that means. Ahead-looking statements are in line with sure suppositions and expectancies of life occasions and tendencies which are topic to dangers and uncertainties. Fresh life effects and tendencies would possibly fluctuate materially from historic effects or the ones mirrored in such a forward-looking statements relying on a number of elements. A number of the elements that would motive unedited effects to fluctuate materially are please see: (1) international financial, political, regulatory, world business, geopolitical, capital markets and alternative exterior statuses and alternative elements past the Corporate’s regulate, together with inflation, recession, army conflicts, and herbal and alternative failures or atmosphere trade affecting the operations of the Corporate or its shoppers and providers; (2) foreign currency echange alternate charges and fluctuations in the ones charges; (3) liabilities and the result of contingencies connected to sure fluorochemicals; referred to as “PFAS,” together with liabilities connected to claims, complaints, and executive regulatory court cases relating to diverse PFAS-related merchandise and chemistries, in addition to dangers connected to the Corporate’s plans to progress PFAS production and discontinue importance of PFAS throughout its product portfolio; (4) dangers connected to the class-action agreement to unravel claims by means of population aqua providers in the US referring to PFAS; (5) felony court cases, together with important traits that would happen within the felony and regulatory court cases described within the Corporate’s stories on Mode 10-Okay, 10-Q and 8-Okay (the “Reports”); (6) aggressive statuses and buyer personal tastes; (7) the timing and marketplace acceptance of untouched product and repair choices; (8) the provision and value of bought parts, compounds, uncooked fabrics and effort because of shortages, larger call for and wages, provide chain interruptions, or herbal or alternative failures; (9) unanticipated issues or delays with the phased implementation of a world undertaking useful resource making plans machine, or safety breaches and alternative disruptions to the Corporate’s data era infrastructure; (10) the affect of acquisitions, strategic alliances, divestitures, and alternative strategic occasions on account of portfolio control movements and alternative evolving industry methods; (11) operational execution, together with the level to which the Corporate can understand the advantages of deliberate productiveness enhancements, in addition to the affect of organizational restructuring actions; (12) monetary marketplace dangers that can impact the Corporate’s investment responsibilities underneath outlined receive advantages pension and postretirement plans; (13) the Corporate’s credit score rankings and its price of capital; (14) tax-related exterior statuses, together with adjustments in tax charges, regulations or rules; (15) issues with regards to the spin-off of the Corporate’s Condition Support industry, together with the chance that the predicted advantages might not be discovered; the chance that the prices or dis-synergies will exceed the expected quantities; doable industry disruption; the sleep of control date; the affect of the transaction at the Corporate’s skill to hold ability; doable affects at the Corporate’s relationships with its shoppers, providers, workers, regulators and alternative counterparties; the power to comprehend the required tax remedy; the chance that any has the same opinion or approvals required might not be got; dangers underneath the promises and responsibilities entered into in reference to the spin-off, and (16) issues with regards to Fight Hands Earplugs (“CAE”), together with the ones connected to, the August 2023 agreement this is meant to unravel, to the fullest extent imaginable, all litigation and alleged claims involving the CAE bought or manufactured by means of the Corporate’s subsidiary Aearo Applied sciences and sure of its associates and/or the Corporate. An extra description of those elements is situated within the Experiences underneath “Cautionary Note Concerning Factors That May Affect Future Results” and “Risk Factors” in Section I, Pieces 1 and 1A (Annual Record) and in Section I, Merchandise 2 and Section II, Merchandise 1A (Quarterly Experiences). Adjustments in such suppositions or elements may just construct considerably other effects. The Corporate assumes deny legal responsibility to replace any forward-looking statements mentioned herein because of untouched data or life occasions or traits.

About 3M

3M (NYSE: MMM) believes science is helping form a brighter global for everybody. Via unlocking the facility of family, concepts and science to reimagine what’s imaginable, our world workforce uniquely addresses the alternatives and demanding situations of our shoppers, communities, and planet. Learn the way we’re operating to support lives and create what’s later at 3M.com/information.

Please be aware that the corporate pronounces subject material monetary, industry and operational data the use of the 3M investor members of the family website online, SEC filings, press releases, population convention shouts and webcasts. The corporate additionally makes use of the 3M Information Heart and social media to keep in touch with our shoppers and the population in regards to the corporate, services and products and alternative issues. It’s imaginable that the tips 3M posts at the Information Heart and social media may well be deemed to be subject material data. Subsequently, the corporate encourages buyers, the media and others keen on 3M to check the tips posted on 3M’s information middle and the social media channels similar to @3M or @3MNews.

Contacts
3M
Investor Contacts:
Bruce Jermeland, 651-733-1807
or
Diane Farrow, 612-202-2449
or
Eric Herron, 651-233-0043
Media Touch:
Sean Lynch, [email protected]

SOURCE 3M Corporate