3M Corp Stock Price, News & Analysis

3M and Safran Cabin announced a partnership aimed at enhancing aircraft hygiene in response to the pandemic's impact on air travel. This collaboration will leverage 3M’s technologies to develop cleaner aircraft interior solutions under the ‘Travel Safe’ initiative. The partnership focuses on certifying 3M's cleaning and protection technologies to mitigate bacteria and viruses in cabin interiors, which can be integrated into new aircraft or retrofitted into existing ones. These innovations are expected to be available in 2021, fostering safer travel.

3M Health Information Systems has secured a contract with Leidos for the Defense Healthcare Management System Modernization initiative, providing components of the 3M™ 360 Encompass™ System. This platform aims to enhance revenue cycle operations in the DoD Military Health System, impacting 9.6 million service members and their families. The system will be implemented at 55 military hospitals and associated clinics globally, promoting interoperability with the Department of Veterans Affairs. 3M's technology supports accurate patient data and improves care delivery during complex health crises.

3M (NYSE: MMM) announced its October 2020 sales, reporting a 3% increase year-on-year to $2.9 billion. Organic local-currency sales rose 2%, bolstered by a 1% contribution from acquisitions. Performance varied by segment, with Health Care sales up 12% and Consumer sales up 7%, while Transportation and Electronics faced a 4% decline. Regionally, Asia Pacific saw a 3% increase in total sales, driven by a 13% spike in China. The report also highlighted potential risks, including economic uncertainties and legal challenges.

The 3M Board of Directors has declared a quarterly dividend of $1.47 per share for Q4 2020, payable on December 12, 2020, to shareholders of record by November 20, 2020. This marks over 100 years of uninterrupted dividend payments, demonstrating the company's long-standing commitment to returning value to shareholders. 3M reported $32 billion in sales and has approximately 576 million common shares outstanding as of September 30, 2020. The company serves a global customer base with a workforce of 96,000 employees.

3M (NYSE: MMM) has received U.S. EPA approval for its TB Quat Disinfectant Ready-to-Use Cleaner, effective against SARS-CoV-2, with 99.9% germ-killing efficacy in just 60 seconds on hard surfaces. This cleaner, now available for consumer use, addresses cleaning needs in high-traffic areas like hospitals and schools. It is designed to cut through grease, control mildew, and has a pleasant lemon scent. Major retailers, including Home Depot and Target, will carry the product, furthering 3M's commitment to home care amid the pandemic.

3M announced findings on the PREVENA™ Incision Management System at the 30th AAHKS Annual Meeting, showcasing its effectiveness in reducing 90-day surgical site complications (SSCs) and readmission rates in patients undergoing revision total knee arthroplasty (TKAs). Data revealed that patients using PREVENA™ Therapy experienced a 75% lower risk of SSCs and a 66% lower risk of readmission compared to standard care. The study, which involved 294 patients, reinforces the device's value in minimizing healthcare burdens.

3M has launched the PREVENA RESTOR AXIO•FORM™ Incision Management System, designed for post-operative management of orthopedic lower extremity surgeries. This system enhances recovery by stabilizing wounds and reducing edema, featuring an extended therapy time of up to 14 days. It is the third addition to the PREVENA RESTOR™ Therapy portfolio, aimed at minimizing hospital stays and improving patient outcomes. The device is now commercially available and addresses the complex needs of surgical incisions, benefiting both patients and healthcare providers.

3M reported its third-quarter 2020 results, highlighting a 4.5% year-on-year sales growth to $8.4 billion. Notable segments include Health Care, which grew 25.5%, and Safety and Industrial, up 6.9%. Despite improvements, Transportation and Electronics experienced a 7.4% decline. Both GAAP and adjusted earnings were $2.43 per share, down 10.7% year-on-year. Operating cash flow reached $2.5 billion, and dividends paid totaled $847 million. Given ongoing uncertainty from COVID-19, 3M refrained from providing full-year guidance.

3M launched the 3M™ Visual Attention Software (VAS) at the Adobe MAX 2020 Creativity Conference, providing graphic designers with a tool that acts like a 'visual spellcheck for design'. This AI-driven plugin for Adobe® Photoshop® analyzes visual content, offering insights on what captures attention quickly. It produces reports such as Heatmap and Gaze Sequence to inform design decisions without costly market research. 3M aims to enhance creativity with data-driven insights, demonstrating its commitment to digital innovation and consumer engagement.