3M Corp Stock Price, News & Analysis

3M launches the revolutionary 3M™ On Demand Bonding System with 3M™ VHB™ Extrudable Tape, enhancing manufacturing with improved automation and sustainability. This innovative solution merges the effectiveness of traditional VHB tapes with the flexibility of liquid adhesives, allowing for easy application on various materials without the mess. The system aims to reduce waste, increase throughput, and streamline production processes. Available worldwide, this product marks a significant advancement in bonding technology, promising faster and more efficient manufacturing capabilities.

3M Company reported its Q2 2022 financial results, highlighting a significant $1.2 billion pre-tax charge due to ongoing litigation related to Combat Arms Earplugs. GAAP earnings per share were $0.14, while adjusted EPS stood at $2.48. The company experienced a 3% decline in sales, totaling $8.7 billion, influenced by a strong U.S. dollar and reduced demand from China lockdowns. Additionally, operating cash flow dropped 40% year-on-year, amounting to $1.1 billion. 3M announced adjustments to its full-year outlook, expecting total sales growth to range from -2.5% to -0.5%.

3M (NYSE: MMM) has announced plans to spin off its Health Care business, creating two separate public companies. The New 3M will focus on material science innovations, generating $26.8 billion in sales in 2021, while Health Care aims for healthcare technology leadership. The spin-off is expected to be tax-free for U.S. federal income tax purposes and completed by year-end 2023. Each entity will benefit from enhanced agility, tailored capital allocation strategies, and unique management teams. Additionally, 3M will retain a 19.9% stake in Health Care for future monetization.

3M (NYSE: MMM) announced the second-quarter 2022 earnings conference call scheduled for July 26, 2022, at 8 a.m. CDT. Investors can participate by calling (800) 762-2596 in the U.S. or +1 (212) 231-2916 internationally. The event will also be webcast live and available for replay on 3M's Investor Relations website at http://investors.3M.com. This event highlights 3M's commitment to transparency and investor engagement.

3M has announced the top 10 finalists and four honorable mentions for the 2022 Young Scientist Challenge. Fourteen students, aged 12-14, have submitted innovative solutions to global challenges, evaluated by a panel of judges, including 3M scientists. The finalists will present their projects at the 3M Innovation Center in Minneapolis on October 17-18, 2022. The winner will receive $25,000 and the title of America's Top Young Scientist. 3M aims to support young innovators to harness STEM for community improvement.

The Flemish Government and 3M Belgium have announced a significant investment exceeding €571 million to address environmental concerns and support local communities in Flanders. This agreement resolves previous disputes over PFAS-related issues and includes commitments for priority remedial actions such as soil remediation and reduced PFAS emissions. Key financial allocations include €250 million for identified remedial actions and €100 million for government-determined PFAS-related initiatives. This collaboration aims to strengthen community relations and enhance transparency regarding 3M's operations.

3M (NYSE: MMM) has agreed to sell its rights to the Neoplast™ and Neobun™ brands and related assets in Thailand and select Southeast Asian countries to Selic Corp Public Company Limited. This strategic decision aims to focus on priority areas within 3M's Consumer Health & Safety Division. The sale, expected to close in Q4 2022, involves the manufacturing assets at the Ladlumkaew facility, which will cease operations affecting approximately 250 employees. The financial impact on 3M is reported to be immaterial.

On May 25, 2022, 3M announced that Malarkey Roofing Products has installed enough smog-reducing roofing materials to protect over 400,000 roofs, equivalent to the smog-fighting capability of more than 1 million trees. The 3M Smog-reducing Granules use a photocatalytic process to transform nitrogen oxides into a plant-usable form when exposed to UV light. This innovation aligns with sustainability efforts, as more than 40% of Americans live in areas with unhealthy air pollution. The granules integrate seamlessly into roofing shingles without altering performance or aesthetics.