3M Corp Stock Price, News & Analysis

3M (NYSE: MMM) reported strong third-quarter results for 2024, with sales of $6.3 billion, up 0.4% year-over-year. The company's GAAP EPS from continuing operations increased by 154% to $2.48, while adjusted EPS rose 18% to $1.98. 3M's adjusted operating income margin improved by 1.4 percentage points to 23.0%. Despite a cash outflow of $1.8 billion from operations due to significant litigation costs, the company generated $1.5 billion in adjusted free cash flow.

Based on strong year-to-date performance, 3M has raised its full-year 2024 adjusted EPS guidance to a range of $7.20 to $7.30, up from the previous forecast of $7.00 to $7.30. The company also updated its outlook for adjusted total sales growth to approximately 1% and adjusted organic sales growth to about 1% for the full year.

Sirish Subash, a 9th grader from Georgia, has been named America's Top Young Scientist in the 2024 3M Young Scientist Challenge. His winning invention, Pestiscand, is an AI handheld pesticide detector that uses spectrophotometry to identify pesticide residues on produce with over 85% accuracy.

The competition, organized by 3M and Discovery Education, awarded Sirish a $25,000 cash prize. Nine other finalists also received recognition and prizes for their innovative projects addressing global challenges. The event, held at 3M's headquarters in St. Paul, Minnesota, evaluated participants on their ingenuity, STEM application, and presentation skills.

The 3M Young Scientist Challenge, now in its 17th year, continues to inspire middle school students to apply STEM principles to real-world problems. Past winners have achieved notable success, including TED Talks, patents, and recognition in prestigious publications and television programs.

The 3M Young Scientists Challenge, hosted by 3M and Discovery Education since 2008, nurtures the next generation of scientists. The article highlights four prior Challenge participants who continue to make significant contributions to science and global problem-solving:

1. Heman Bekele (2023 winner): Developed a soap to treat skin cancer, filed for a U.S. patent, and collaborated with Johns Hopkins University.

2. Reshma Kosaraju (2019 finalist): Created a machine learning model to predict forest fires with 90% accuracy, now studying at MIT.

3. Gitanjali Rao (2017 winner): Developed multiple apps, including Tethys for lead detection in water and Kindly to combat cyberbullying.

4. Hannah Herbst (2015 winner): Founded Golden Hour Medical, providing innovative equipment for traumatic injury treatment.

These young scientists have received numerous accolades and continue to make strides in their respective fields, showcasing the importance of STEM education and early scientific engagement.

3M's Scotch® Magic™ Tape has been voted the 'Coolest Thing Made in Minnesota' in a contest organized by the Minnesota Chamber of Commerce. The competition, which ran from September 3 to October 4, saw over 100,000 votes cast across five rounds. Scotch Magic Tape triumphed over 63 other Minnesota-made products, including notable contenders like Red Wing Shoe Company's Beckman Boot and Hormel Foods' SPAM Classic.

Key facts about Scotch Magic Tape include:

• Produced at 3M's Hutchinson, Minnesota facility
• Appears frosted on the roll but becomes invisible when applied
• Precursor, Scotch Masking Tape, will celebrate its 100th anniversary in 2025
• The Hutchinson plant produces approximately 12 million miles of 3M tapes annually

3M has launched the WorkTunes Connect + Solar Hearing Protector, the first solar charging wireless Bluetooth hearing protector in the consumer market. This innovative headset uses Powerfoyle flexible solar cell technology to continuously charge with both indoor and outdoor light, offering all-day protection, comfort, and entertainment.

Key features include:

• Noise Reduction Rating (NRR) of 26 dB
• Built-in microphone for calls
• Intelligent background-noise reduction
• Water and sweat-resistant design
• Conformable ear cushions for comfort

The headset is designed for DIYers, hobbyists, and professionals, providing enhanced entertainment and communication while protecting against hazardous noise. It's available on Amazon.com for $169.99.

3M (NYSE: MMM) has announced an upcoming investor event. The company will hold its third-quarter 2024 earnings conference call on Tuesday, October 22, 2024, at 8 a.m. CT. This event will be webcast live, and a replay will be available on 3M's Investor Relations website at http://investors.3M.com.

This announcement provides investors and interested parties with the opportunity to stay informed about 3M's financial performance and future outlook. The earnings call is an important event for stakeholders to gain insights into the company's recent financial results and discuss any relevant business developments.

3M (NYSE: MMM) has announced that its near-term, science-based emissions reduction targets have been validated by the Science Based Targets initiative (SBTi) as aligning with the 1.5°C trajectory of the Paris Agreement. This validation strengthens 3M's commitment to climate action and decarbonization. The company's targets include:

1. Reducing absolute scope 1 and 2 greenhouse gas emissions by 52.6% by 2030 from a 2019 baseline.

2. Reducing absolute scope 3 emissions by 42% by 2030 from a 2021 baseline.

This marks 3M's first scope 3 GHG emissions target, a significant milestone for the diverse, global company. 3M has been documenting and reporting scope 1 and 2 inventory since 2002 and developing its scope 3 emissions inventory since 2011.

3M has launched the 3M™ WorkTunes™ Connect + Solar Hearing Protector, the first solar charging wireless Bluetooth hearing protector in the consumer market. This innovative headset uses Powerfoyle™ flexible solar cell technology, allowing continuous charging with both indoor and outdoor light for all-day protection, comfort, and entertainment.

Key features include:

• Noise Reduction Rating (NRR) of 26 dB
• Built-in microphone for easy phone calls
• Intelligent background-noise reduction
• Water and sweat-resistant design
• Conformable ear cushions for comfort

The product is available on Amazon.com for $169.99, targeting DIYers, hobbyists, and professionals seeking hearing protection with enhanced entertainment and communication features.

3M has launched a new docuseries called 'Green Works' to highlight the importance of green jobs in combating climate change. The series features five individuals working in various sectors of the green economy, including renewable energy, electric vehicles, climate education, reforestation, and sustainable fashion.

The docuseries aligns with findings from 3M's State of Science Insights study, which revealed that 75% of people believe green jobs are important for addressing climate change. To support the green transition, 3M is partnering with Work on Climate, a nonprofit organization that helps professionals find green jobs and offers resources for career development in the sustainability sector.

Additionally, 3M is promoting Climate Action Pathways for Schools (CAPS), a program that empowers students to work on paid sustainability projects, preparing them for green careers while driving immediate change in their communities. The company encourages students, teachers, and the general public to explore resources for green career development and learn about the future landscape of green jobs.