3M Corp Stock Price, News & Analysis

3M emphasizes the importance of green jobs as Earth Overshoot Day falls on August 1, 2024. With natural resources dwindling, 3M's Chief Sustainability Officer, Gayle Schueller, highlights the critical role of green jobs in addressing climate change. The company promotes sustainability through:

1. Encouraging every employee to view their job as a green job
2. Advancing decarbonization, energy efficiency, and sustainable infrastructure
3. Promoting digitalization and sustainable manufacturing
4. Engaging communities to spread awareness about green skills

3M's initiatives aim to combat global uncertainty around STEM career paths and inspire action towards a more sustainable future. The company leverages its position as a global materials science leader to promote opportunities in STEM and skilled trades.

Heman Bekele, winner of 3M's Young Scientist Challenge in 2023, has been named TIME's 2024 Kid of the Year. Heman invented a soap that could potentially treat and prevent skin cancer, the most common cancer in the United States with an annual treatment cost of $8.1 billion. His invention aims to provide an affordable solution to this widespread health issue.

Heman's mentor, 3M engineer Deboarh Isabelle, praised his intelligence, compassion, and potential to make a positive impact. This marks the second time a 3M Young Scientist Challenge winner has received this honor, following Gitanjali Rao in 2020.

The 2024 3M Young Scientist Challenge finalists have been announced, with the competition's final event scheduled for October 14-15, 2024, at the 3M Innovation Center in St. Paul, Minnesota. The winner will receive a $25,000 grand prize and the title of "America's Top Young Scientist."

3M (NYSE:MMM) has announced a quarterly dividend of $0.70 per share for the third quarter of 2024. The dividend will be payable on September 12, 2024, to shareholders of record as of August 26, 2024. This declaration continues 3M's impressive track record of paying dividends without interruption for over 100 years. As of June 30, 2024, the company reported 549,353,621 outstanding common shares and 58,536 shareholders of record. This consistent dividend payout demonstrates 3M's commitment to delivering value to its shareholders and reflects the company's financial stability.

The Everest Marathon, known as the world's highest marathon, took place on May 29, 2024, commemorating the historic 1953 ascent of Mt. Everest. 3M, as a sponsor, provided runners with essential gear featuring their innovative technologies:

1. Padded jackets and sleeping bags with 3M™ Thinsulate™ technology
2. Race T-shirts with 3M™ Scotchgard™ technology
3. Outdoor jackets with 3M Scotchgard water repellent technology

These advanced materials helped athletes stay dry and comfortable during the challenging 26.2-mile (42.6 km) race, which began at Mt. Everest Base Camp (17,598 feet/5,364 meters) and descended to Namche Bazaar (11,286 feet/3,440 meters). The winner, Arjun Rai Kulung, completed the marathon in 3 hours, 52 minutes, and 2 seconds.

3M (NYSE:MMM) has appointed Anurag Maheshwari as its new Executive Vice President and Chief Financial Officer (CFO), effective September 1, 2024. Maheshwari joins from Otis Worldwide , where he served as CFO since July 2022. He brings extensive experience in financial and business functions, including strategic planning, operations, and investor relations.

Prior to Otis, Maheshwari held leadership roles at Harris and L3Harris. He holds a master's degree in finance from the Asian Institute of Management. 3M CEO Bill Brown expressed confidence in Maheshwari's ability to drive profitable growth and operational excellence. In the interim, Teri Reinseth, currently Senior VP, Corporate Controller and Chief Accounting Officer, will serve as Interim CFO from August 1, 2024.

At the recent 3M Open charity tournament, two-year-old Cameron Olson stole the show on the 18th green. Cameron, who relies on an oxygen tank due to a rare respiratory condition called Children's Interstitial Lung Disease (chILD), specifically Neuroendocrine Cell Hyperplasia of Infancy (NEHI), demonstrated resilience and joy while putting.

Cameron's parents, Kelsey and Dexter Olson, faced numerous challenges during his diagnosis and treatment. In response, they launched the CamO Fund to support families affected by chILD and raise awareness. The 3M Open Charity Challenge raised over $100,000 for the University of Minnesota Foundation, providing a platform for the CamO Fund.

Kelsey, whose father is a long-time 3M employee, expressed gratitude for the company's support and the community's involvement. The event showcased how the 3M Open extends beyond golf, embodying the spirit of 'Golf That Matters'.

3M (NYSE: MMM) reported strong second-quarter results for 2024, with adjusted EPS from continuing operations up 39% year-on-year to $1.93. The company's sales reached $6.3 billion, down 0.5% YoY, while adjusted sales of $6.0 billion showed organic growth of 1.2% YoY. 3M's operating cash flow was $1.0 billion, with adjusted free cash flow of $1.2 billion.

Notably, 3M has updated its full-year 2024 adjusted EPS guidance to a range of $7.00 to $7.30, up from the previous forecast of $6.80 to $7.30. The company maintains its outlook for adjusted total sales growth between -0.25% and +1.75%, and adjusted organic sales growth of flat to +2%.

CEO William Brown emphasized the company's focus on driving sustained organic revenue growth, increasing operational performance, and effective capital deployment.

3M (NYSE: MMM) has made a strategic investment in Ohmium International, a developer of electrolyzer systems for green hydrogen production. This move aligns with 3M's commitment to advancing climate technologies and exploring ways to decarbonize its operations. The investment supports the U.S. Department of Energy's "Hydrogen Energy Earthshot" initiative and the industry goal of reducing green hydrogen production costs to $1 per kilogram.

Ohmium is known for its efficient Proton Exchange Membrane (PEM) electrolyzers, which are important for decarbonizing industries like steel manufacturing and fertilizer production. The global electrolyzers market is projected to grow from $0.5 billion in 2023 to over $57 billion by 2030, presenting a significant opportunity for 3M to leverage its material science expertise in the expanding clean energy sector.

Post-it and Scotch Brand have announced a Back-to-School Countdown Kit in collaboration with actress JoAnna Garcia Swisher. The kit provides tools and tips to help parents and students prepare for the school year, featuring Post-it Notes and Scotch Brand products like scissors and various types of tape. The kit includes a countdown calendar with 21 projects and activities. It is available through a giveaway from July 11 to July 19, 2024. The initiative aims to support families in organizing and planning for the upcoming school season.