Welcome to our dedicated page for 3M Company news (Ticker: $MMM), a resource for investors and traders seeking the latest updates and insights on 3M Company stock.
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3M is expanding its facility in Valley, Nebraska with a $67 million investment to create about 40 new jobs. The expansion includes a 90,000-square-foot facility with new production lines, equipment, and a warehouse to meet customer demand for personal safety products. With a focus on creating manufacturing capacity for reusable respirators and hearing protection products, 3M's investment in Valley will support its global operations and contribute to the community's economic growth.
3M reported strong first-quarter results with sales of $8.0 billion, down 0.3% YoY, and adjusted sales of $7.7 billion, reflecting organic growth of approximately 1% YoY. GAAP earnings per share were $1.67, down 5% YoY, while adjusted earnings were $2.39, up double digits YoY. The company completed the spin of Solventum, finalized legal settlements, and named a new CEO. 3M initiated guidance for 2024, reflecting Solventum as a discontinued operation.