3M Company News - MMM

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Form 3 - Initial statement of beneficial ownership of securities

3M announces it has made and sold more than 300 million Friction Shims worldwide

3M announces it has made and sold more than 300 million Friction Shims worldwide PR Newswire ST. PAUL, Minn...

3M Announces Upcoming Investor Event

3M Announces Upcoming Investor Event PR Newswire ST. PAUL, Minn., Aug. 27, 2024 ST. PAUL, Minn., Aug. 27, 2024...

Futures Pointing To Modestly Lower Open On Wall Street

The major U.S. index futures are currently pointing to a modestly lower open on Tuesday, with stocks likely to...

U.S. Index Futures Edge Higher, Oil Prices Dip

U.S. index futures edged higher in premarket trading on Tuesday, recovering from pressure on tech stocks that...

Dow Sets New Record Closing High But Nasdaq, S&P 500 Give Back Ground

The major U.S. stock indexes turned in a mixed performance during trading on Monday, with the Dow reaching a...

Form 144 - Report of proposed sale of securities

3M Board Declares Quarterly Dividend

3M Board Declares Quarterly Dividend PR Newswire ST. PAUL, Minn., Aug. 16, 2024 ST. PAUL, Minn., Aug. 16, 2024...

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form 8-K - Current report

Bountiful_Harvest 4 weeks ago

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Chartmaster 1 month ago

KEY REVERSAL WEEK ALERT! Bought 3 March 150 calls!

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DewDiligence 2 months ago

3M 3Q24 CC transcript:

https://finance.yahoo.com/news/3m-mmm-q3-2024-earnings-173011654.html

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DewDiligence 2 months ago

3M reports 3Q24 results—raises low-end of 2024 EPS guidance:

https://d1io3yog0oux5.cloudfront.net/_f3964958e9215b6f2bea167334f734c9/3m/db/3222/30893/earnings_release/Q3+2024+-+Earnings+Press+Release.pdf

3Q24 non-GAAP EPS—which excludes PFAS litigation expenses and unrealized gain/loss on 3M’s 19.9% equity stake in SOLV—was $1.98. (3Q24 non-GAAP EPS was actually lower than 3Q24 GAAP EPS of $2.48 because the non-GAAP figure excludes a substantial unrealized gain on 3M’s SOLV holding.)

3Q24 sales from continuing operations (which excludes revenue from PFAS products that are being phased out by the end of 2025) was $6.07B (+1.5% YoY).

New 2024 non-GAAP EPS guidance is $7.20-7.30, up at the low end from the prior range of $7.00-7.30.

New 2024 organic-sales-growth guidance is +1%, narrowed from the prior range of 0-2%. (Organic sales growth excludes the effect of acquisitions, divestitures, and exchange rates.)

CC slides:
https://d1io3yog0oux5.cloudfront.net/_f3964958e9215b6f2bea167334f734c9/3m/db/3222/30893/presentation/Q3+2024+-+Earnings+Presentation.pdf

3Q24 financial statements:
https://d1io3yog0oux5.cloudfront.net/_f3964958e9215b6f2bea167334f734c9/3m/db/3222/30893/financial_statement/Q3+2024+-+Supplemental+Financial+Schedules.pdf

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Monksdream 2 months ago

MMM 10Q due Oct 22

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Monksdream 3 months ago

MMM new 52 weeknhigh

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Chartmaster 3 months ago

Bought 3 Nov 140 calls here today at 2.95, earnings out 10/22

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Monksdream 4 months ago

MMM new 52/week high

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Monksdream 4 months ago

MMM new 52 week high

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Chartmaster 4 months ago

Bought 4 Nov 140 calls at 2.65 here today!

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DewDiligence 5 months ago

3M hires new CFO, Anurag Maheshwari, currently CFO of OTIS:

https://finance.yahoo.com/news/3m-appoints-chief-financial-officer-103000707.html

3M’s outgoing CFO, Monish Patolawala, left to become CFO of ADM after being passed over for the CEO job at 3M.

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DewDiligence 5 months ago

More on the same story—(from Bloomberg):

https://finance.yahoo.com/news/3m-boosts-profit-forecast-ceo-105728844.html

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DewDiligence 5 months ago

Correction—3M's updated 2024 non-GAAP EPS guidance was an increase of $0.20 at the low end from $6.80 to $7.00. The high end of the guidance range, $7.30, is unchanged.

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Chartmaster 5 months ago

Neb, I'm seeing it different man, I think we see historic run up in stocks till EOY, MMM is just a warm up of how stocks will rip till year end esp after the rate cut
I am loaded with small cap calls and many more calls on bb stocks and indexes

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Chartmaster 5 months ago

Who da thought? 3M up 23% in one day? Simply Amazing!! 200 day MA at 117 is pullback support now, man after I 3x it on those calls I was pricing the Aug 120 calls at 3.00, tried to buy 2.50, no fill now 9.00! This is just a warm up of how stocks will rip till year end esp after the rate cut

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DewDiligence 5 months ago

3M 2Q24 CC transcript:

https://finance.yahoo.com/news/3m-mmm-q2-2024-earnings-201516717.html

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Nebuchadnezzar 5 months ago

best day ever likely means a little bit more follow through then it goes back to flatlining or trending lower

recession is coming

FED is so screwed

inflation is a problem and they want to cut rates???? they are morons

holiday season is one of the biggest reasons for inflation and its right around the corner plus an election and probably a black swan event

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KingOfSwing...Trading 5 months ago

I took a trip to the ATM, as well. I’m happy with my exit point. Need a dip to get back in.

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Chartmaster 5 months ago

Wow! Best day ever for MMM!!! Too bad I sold way too early! Still a 3 bagger though!

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bar1080 5 months ago

I'm still holding. But not happy.

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bar1080 5 months ago

"3M Jumps Most in 36 Years as New CEO Boosts Profit Forecast"

(Bloomberg) -- 3M Co. soared the most in more than 36 years after raising its full-year profit forecast as its new chief executive officer vowed to reinvigorate the iconic manufacturer’s innovation engine.

The shares jumped as much as 16% as of 9:36 a.m. in New York, the most since 1987. The gains came after the maker of Post-it notes and industrial adhesives said adjusted earnings this year would be between $7.00 to $7.30 per share as it reported second-quarter results. That boosted the midpoint of 3M’s forecast to $7.15, up a dime from its previous outlook.

The results are the first under CEO Bill Brown, who succeeded Mike Roman on May 1. Brown inherited a much smaller company following the spinoff of 3M’s huge health-care products division unit amid massive legal liabilities.

Brown kicked off his first earnings call by stressing the need to accelerate 3M’s sales growth. To get there, he wants to increase the pace of new product development."

https://finance.yahoo.com/news/3m-boosts-profit-forecast-ceo-105728844.html

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NYCPuglet 5 months ago

My buddy got fired from 3M. They’re ducking ruthless!

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DewDiligence 5 months ago

Part of the reason for 3M's breakout today is the first quarterly CC with the new CEO, Bill Brown (#msg-174020774). On the CC, Brown said all the right things about about improving R&D productivity and capital management.

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DewDiligence 5 months ago

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

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Chartmaster 5 months ago

Thanks! I sold today and made 3x, sold too early though, I can't believe how strong this is today!

Chartmaster 5 months ago

Bought 3 Oct 110 calls here today at 3.25

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DewDiligence 6 months ago

Firefighters sue 3M/DD/HON re PFAS-laden gear:

https://finance.yahoo.com/news/connecticut-firefighters-sue-dupont-3m-214455035.html

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DewDiligence 7 months ago

3M +4% to 12m high because they cut the dividend by 54%*. Part of the reason for the cut was the spinoff of SOLV, but most of the reason for the cut was to improve the balance sheet and be better able to afford the PFAS and earplug legal liabilities that have been settled.

*The new annualized payout is $2.80, down from $6.04. At the current share price ($104.86), the new annualized payout is a yield of 2.7%.

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DewDiligence 7 months ago

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

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DewDiligence 8 months ago

3M 1Q24 CC transcript:

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

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DewDiligence 8 months ago

3M reports 1Q24 results—issues 2024 ex-SOLV-spin guidance:

https://d1io3yog0oux5.cloudfront.net/_827c8a8b5aa9802496746200b47d1a06/3m/db/3222/30862/earnings_release/Q1+2024+Press+Release.pdf

3M spun off its healthcare segment into the new company, Solventum (Nasdaq: SOLV) on 4/1/23, so 3M’s 1Q24 results include that business segment. However, 3M’s new guidance for full-year 2024 results excludes the spun-off business and is on an apples-to-apples basis.

1Q24 sales were $8.0B, flat YoY. 1Q24 organic sales (excluding FX, acquisitions, and divestitures) were -1% YoY.

1Q24 non-GAAP EPS—which excludes the cost of the announced earplug and PFAS settlements and related legal expenses—was $2.39, up from $1.97 in 1Q23.

3M’s new ex-SOLV-spin 2024 guidance is as follows:

Non-GAAP EPS of $6.80-7.30. (The prior 2024 guidance including SOLV was $9.35-9.75; actual 2023 non-GAAP EPS was $9.24.)

Sales growth of -0.25% to +1.75%]/b].

Organic sales growth of 0-2.0%.

CC slides:
https://d1io3yog0oux5.cloudfront.net/_827c8a8b5aa9802496746200b47d1a06/3m/db/3222/30862/presentation/Q1+2024+Earnings+Presentation.pdf

Financial statements: https://d1io3yog0oux5.cloudfront.net/_827c8a8b5aa9802496746200b47d1a06/3m/db/3222/30862/financial_statement/Q1+2024+Supplemental+Financial+Schedules.pdf

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Chartmaster 8 months ago

Bought 5 July 100 calls here today at 1.75, earnings out in the morning!

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Monksdream 9 months ago

Great info
Next day settlement begins 5/28 per SEC mandate

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KingOfSwing...Trading 9 months ago

Very nice!

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DewDiligence 9 months ago

iHub has a board for the SOLV spinoff:

https://investorshub.advfn.com/Solventum-Corp-SOLV-42765

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eastunder 9 months ago

3M Company (MMM) recently completed the previously announced spin-off of its healthcare business into a separate public company. The spun-off entity, which is renamed Solventum Corporation, is listed on the NYSE under the ticker SOLV.

https://www.zacks.com/stock/news/2249069/3m-mmm-completes-divestiture-of-its-healthcare-business

MMM’s shares increased 6% yesterday to eventually close the trading session at $94.02.

MMM shareholders received one share of Solventum stock for every four shares of 3M stock held on the record date for the distribution, Mar 18, 2024. The distribution is proposed to be tax-free to MMM’s shareholders. It’s worth noting that 19.9% of outstanding shares of Solventum stock were retained by 3M and will be monetized within five years after completion of the spin-off.

The spin-off of 3M and its healthcare unit will facilitate each entity to flourish through better operational focus, capital allocation policies and financial flexibility. Solventum will serve a global addressable market worth about $93 billion, which is expected to grow in the range of 4-6% through 2026. The new entity will operate through four operating segments, which are Medical Surgical, Dental Solutions, Health Information Systems and Purification & Filtration.

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Monksdream 9 months ago

MMM new 52 hi

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KingOfSwing...Trading 9 months ago

I am optimistic about where we are headed from here? Am I alone with this sentiment?

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bwrbad 9 months ago

ha roman after 26M in pocket becoming chairman of 3M board, obviously smelling rotten fish - after converting this from an innovative to xnovative company - what next

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DewDiligence 9 months ago

3M announces new CEO effective 5/1/24:

https://finance.yahoo.com/news/3m-announces-leadership-appointments-103000708.html 3M today announced that William M. "Bill" Brown is appointed chief executive officer, effective May 1, 2024. He succeeds Michael Roman, who is appointed to the role of Executive Chairman of the 3M Board of Directors, also effective May 1, 2024.

…Brown, 61, is the former Chairman of the Board and Chief Executive Officer of L3Harris Technologies, a global innovator in aerospace and defense technology solutions, where he served as chief executive officer and chairman, and then executive chair from June 2019 to June 2022. Brown previously served as chairman, president, and chief executive officer of Harris Corporation prior to its merger with L3 Technologies in 2019. He joined Harris Corporation in November 2011 as president and chief executive officer. Prior to Harris Corporation, Brown spent 14 years at United Technologies Corporation (UTC) serving in a variety of leadership roles.

Roman will continue to chair 3M's Board of Directors and provide insights from his more than 35 years with 3M to the company's strategic direction as executive chairman of the board. He has served as 3M's CEO since July 2018. Roman might not have been a bad CEO, but bad things happened to the company on his watch, so he gets the blame. The stock is +5% in PM trading.

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DewDiligence 9 months ago

Details of 3M’s SOLV spinoff finalized:

https://finance.yahoo.com/news/3m-board-directors-approves-spin-165500127.html

3M shareholders of record on 3/18/24 will receive 1 share of SOLV for every 4 shares of 3M. The SOLV shares will be distributed before the market open on 4/1/24.

This is a tax-exempt distribution for US residents.

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DewDiligence 10 months ago

Further details of 3M/SOLV capitalization:

SOLV will sell $8.4B of new debt, keeping $600M of the proceeds and paying $7.7B as a one-time (tax-free) dividend to 3M. (~$100M of the debt proceeds will go to underwriting fees.)

After the debt issuance and one-time payment to 3M, SOLV will have a debt/EBITDA ratio of ~3.5.

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DewDiligence 10 months ago

3M’s Solventum spin slated for 4/1/24—Nasdaq symbol=‘SOLV’—Investor Day 3/19/24:

https://finance.yahoo.com/news/3m-announces-filing-form-10-150000365.html

See #msg-173870424, #msg-173870432, and #msg-173870470 for related info.

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DewDiligence 10 months ago

Are market conditions such that 3M views the spinoff as a good way to pay down debt, or obtain funds for further innovation in the medical device sector or pharmaceutical/biotech sector? Funds for M/A with a target in mind? The spinoff will include a large one-time cash transfer from Solventum to the post-spin 3M. 3M will use this cash to pay down debt and/or to help fund the earplug and PFAS legal settlements.

The post-spin 3M will almost certainly refrain from material M&A for a few years; it will instead focus on re-igniting organic growth and paying the legal settlements mentioned above.

On the other hand, Solventum could be a takeover target for a company such as DHR or TMO.

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DewDiligence 10 months ago

3M will retain a 19.9% stake in Solventum following the spinoff. 3M plans to sell these shares gradually over a 5-year period.

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DewDiligence 10 months ago

These are the five focal areas for 3M’s healthcare business that will become part of Solventum; they comprise about 25% of 3M’s current company-wide sales:

https://engage.3m.com/purification

https://www.3m.com/3M/en_US/health-information-systems-us/

https://www.3m.com/3M/en_US/medical-us/ (surgical supplies and wound care)

https://www.3m.com/3M/en_US/medical-device-components-us/ (components for other companies’ medical devices)

https://www.3m.com/3M/en_US/oral-care-us/ (dentistry and othodontics)

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north40000 10 months ago

What do you see as the main focus of that 3M healthcare unit? Consumer goods like Kenvue? Will 3M retain a substantial equity position like JNJ did with Kenvue? Are market conditions such that 3M views the spinoff as a good way to pay down debt, or obtain funds for further innovation in the medical device sector or pharmaceutical/biotech sector? Funds for M/A with a target in mind?

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DewDiligence 10 months ago

As noted, the point was to keep the streak alive.

This year, however, the streak will presumably be broken when 3M spins off its healthcare business, Solventum.

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bar1080 10 months ago

Wow, that's a puny increase. But thanks

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3M Company (MMM)

Empower your portfolio: Real-time discussions and actionable trading ideas.

MMM News

Form 3 - Initial statement of beneficial ownership of securities

3M announces it has made and sold more than 300 million Friction Shims worldwide

3M Announces Upcoming Investor Event

Futures Pointing To Modestly Lower Open On Wall Street

U.S. Index Futures Edge Higher, Oil Prices Dip

Dow Sets New Record Closing High But Nasdaq, S&P 500 Give Back Ground

Form 144 - Report of proposed sale of securities

Form 144 - Report of proposed sale of securities

3M Board Declares Quarterly Dividend

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form 8-K - Current report

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3M Company (MMM)

Empower your portfolio: Real-time discussions and actionable trading ideas.

MMM News

Form 3 - Initial statement of beneficial ownership of securities

3M announces it has made and sold more than 300 million Friction Shims worldwide

3M Announces Upcoming Investor Event

Futures Pointing To Modestly Lower Open On Wall Street

U.S. Index Futures Edge Higher, Oil Prices Dip

Dow Sets New Record Closing High But Nasdaq, S&P 500 Give Back Ground

Form 144 - Report of proposed sale of securities

Form 144 - Report of proposed sale of securities

3M Board Declares Quarterly Dividend

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form 4 - Statement of changes in beneficial ownership of securities

Form 8-K - Current report

MMM Discussion

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