Welcome to our dedicated page for 3M news (Ticker: MMM), a resource for investors and traders seeking the latest updates and insights on 3M stock.
3M Company (NYSE: MMM) generates a steady flow of news that reflects its role as a science-driven manufacturing conglomerate. Investors and observers following MMM news will find updates on financial performance, investor events, product and technology announcements, and education and community initiatives. The company regularly issues press releases describing how it applies science to transform industries with customer-focused solutions built on diverse technology platforms and a global footprint.
News about 3M often includes earnings reports and guidance updates, where the company discusses sales, margins, earnings per share, and cash flow, and files related Form 8-K reports. These releases can provide insight into how 3M’s Safety and Industrial, Transportation and Electronics, and Consumer segments are performing and how portfolio actions, such as the spin-off of its healthcare business into Solventum, affect its results.
Another key category of MMM news covers technology and digital innovation. Recent announcements highlight tools such as Ask 3M, an AI-powered assistant that helps customers navigate 3M’s adhesives and tapes, and the 3M Digital Materials Hub, which supports virtual materials sampling and collaboration with 3M scientists. The company also showcases its materials and solutions for consumer electronics, automotive, advanced manufacturing, and data centers at events like CES.
3M news also features consumer brand campaigns and education programs, such as Scotch Brand initiatives around holiday gifting and the 3M Young Scientist Challenge, which recognizes middle school innovators. By reviewing this news stream, readers can see how 3M combines financial reporting, product and technology updates, and science education efforts. Bookmarking the MMM news page on Stock Titan allows users to quickly access these diverse updates in one place.
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.
3M (NYSE:MMM) announced that Monish Patolawala, President and Chief Financial Officer, will resign effective July 31, 2024. He will remain with the company until this date to ensure a smooth transition. CEO William Brown thanked Patolawala for his four years of leadership and contributions. Patolawala expressed pride in 3M's achievements and confidence in the company's future. 3M has begun a succession process for a new CFO and will provide updates as necessary.
Command™ Brand has partnered with lifestyle expert Hannah Brown to inspire college students with their 'delulu' design decor campaign. This initiative aims to highlight how creative inspiration and Command™ products can transform living spaces without damage. Brown, a former interior designer, has co-created 'Delulu Design 101,' a course to encourage students to dream big and personalize their dorms. Command™ Brand is also giving away $50,000 in prizes to 10 students who share their design ideas on social media by July 30, 2024. The campaign emphasizes Command™'s range of damage-free decorating and organizing products, including Edition Color Collection Hooks and heavy-duty Picture Hanging Strips.
3M (NYSE: MMM) has scheduled its second-quarter 2024 earnings conference call for July 26, 2024, at 8 a.m. CT. The event will be webcast live, and a replay will be accessible later on the company’s Investor Relations website. This call is expected to provide insights into 3M’s financial performance and future outlook. Investors and analysts can join the webcast to gain a better understanding of the company’s strategies and results.
3M is driving innovation in the automotive industry, offering solutions from design to recycling. Their Automotive Manufacturing Solutions, such as the 3M™ Finesse-it™ Robotic Paint Repair System, automate defect repair, improving efficiency and quality. For consumers, 3M provides customizable Automotive Films, including window, paint protection, and wrap films. In service and repair, 3M's RepairStack™ system optimizes inventory management and shop processes. Additionally, 3M is exploring new debonding technologies to support the recycling and repurposing of EV batteries, addressing the growing need for sustainable solutions.
3M continues to prioritize workplace safety with innovative products designed for various industries. Its 3M Fall Protection products, including the 3M™ DBI-SALA® and 3M™ Protecta® brands, ensure the safety and comfort of workers performing tasks at heights.
3M's use of virtual reality (VR) for training helps workers practice in hazardous environments without real-world risks, improving safety procedures and productivity.
The 3M™ Scott™ Vision C5 Facepiece enhances communication for firefighters with features like a wider field of view, bone conduction headphone technology, and Bluetooth-enabled in-mask communications.
For welders, the 3M™ Speedglas™ G5-02 helmet introduces a curved auto-darkening filter (ADF) that offers a wider field of view, ergonomic design, and Bluetooth connectivity for equipment management.
These advancements reinforce 3M's commitment to worker safety and productivity through cutting-edge technology.
FAQ
What is the current stock price of 3M (MMM)?
What is the market cap of 3M (MMM)?
