3M Company News - MMM

Get an advanced news scanner tailored to your needs by ADVFN

Enhance your trading experience

SCOTCH-BRITE CONTINUES TO BUILD SUSTAINABILITY INTO ITS GREENER CLEAN PRODUCTS

SCOTCH-BRITE CONTINUES TO BUILD SUSTAINABILITY INTO ITS GREENER CLEAN PRODUCTS PR Newswire ST. PAUL, Minn...

3M Announces Upcoming Investor Event

3M Announces Upcoming Investor Event PR Newswire ST. PAUL, Minn., April 4, 2024 Company files Form 8-K...

3M launches new Verify app to help tackle counterfeit personal protective equipment

3M launches new Verify app to help tackle counterfeit personal protective equipment PR Newswire ST. PAUL...

3M Settlement with Public Water Suppliers to Address PFAS in Drinking Water Receives Final Court Approval

3M Settlement with Public Water Suppliers to Address PFAS in Drinking Water Receives Final Court Approval PR...

3M Completes Spin-off of Solventum

3M Completes Spin-off of Solventum PR Newswire ST. PAUL, Minn., April 1, 2024 ST. PAUL, Minn., April 1, 2024...

GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600

GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600 PR Newswire NEW...

3M invests in hydrogen electrolyzer manufacturer EVOLOH

3M invests in hydrogen electrolyzer manufacturer EVOLOH PR Newswire ST. PAUL, Minn., March 26, 2024...

Combat Arms Earplugs Settlement Moves to Final Resolution

Combat Arms Earplugs Settlement Moves to Final Resolution PR Newswire ST. PAUL, Minn., March 26, 2024 As of...

3M introduces a world's first innovation to help redefine shipping and packaging

3M introduces a world's first innovation to help redefine shipping and packaging PR Newswire ST. PAUL, Minn...

Solventum Hosts Inaugural Investor Day Ahead of Its Planned Spinoff from 3M

Solventum Hosts Inaugural Investor Day Ahead of Its Planned Spinoff from 3M PR Newswire ST. PAUL, Minn., March...

Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News

Intel (NASDAQ:INTC) – The Pentagon has decided not to proceed with a plan to allocate up to $2.5 billion...

3M Announces New Leadership Appointments

3M Announces New Leadership Appointments PR Newswire ST. PAUL, Minn., March 12, 2024 William Brown appointed...

Form 8-K - Current report

3M Board of Directors Approves Spin-off of Solventum

3M Board of Directors Approves Spin-off of Solventum PR Newswire ST. PAUL, Minn., March 8, 2024 Record date...

Monksdream 2 weeks ago

Great info
Next day settlement begins 5/28 per SEC mandate

👍️0

KingOfSwing...Trading 2 weeks ago

Very nice!

👍️0

DewDiligence 2 weeks ago

iHub has a board for the SOLV spinoff:

https://investorshub.advfn.com/Solventum-Corp-SOLV-42765

👍️0

eastunder 2 weeks ago

3M Company (MMM) recently completed the previously announced spin-off of its healthcare business into a separate public company. The spun-off entity, which is renamed Solventum Corporation, is listed on the NYSE under the ticker SOLV.

https://www.zacks.com/stock/news/2249069/3m-mmm-completes-divestiture-of-its-healthcare-business

MMM’s shares increased 6% yesterday to eventually close the trading session at $94.02.

MMM shareholders received one share of Solventum stock for every four shares of 3M stock held on the record date for the distribution, Mar 18, 2024. The distribution is proposed to be tax-free to MMM’s shareholders. It’s worth noting that 19.9% of outstanding shares of Solventum stock were retained by 3M and will be monetized within five years after completion of the spin-off.

The spin-off of 3M and its healthcare unit will facilitate each entity to flourish through better operational focus, capital allocation policies and financial flexibility. Solventum will serve a global addressable market worth about $93 billion, which is expected to grow in the range of 4-6% through 2026. The new entity will operate through four operating segments, which are Medical Surgical, Dental Solutions, Health Information Systems and Purification & Filtration.

👍️0

Monksdream 2 weeks ago

MMM new 52 hi

👍️0

KingOfSwing...Trading 1 month ago

I am optimistic about where we are headed from here? Am I alone with this sentiment?

👍️ 1

bwrbad 1 month ago

ha roman after 26M in pocket becoming chairman of 3M board, obviously smelling rotten fish - after converting this from an innovative to xnovative company - what next

👍️0

DewDiligence 1 month ago

3M announces new CEO effective 5/1/24:

https://finance.yahoo.com/news/3m-announces-leadership-appointments-103000708.html 3M today announced that William M. "Bill" Brown is appointed chief executive officer, effective May 1, 2024. He succeeds Michael Roman, who is appointed to the role of Executive Chairman of the 3M Board of Directors, also effective May 1, 2024.

…Brown, 61, is the former Chairman of the Board and Chief Executive Officer of L3Harris Technologies, a global innovator in aerospace and defense technology solutions, where he served as chief executive officer and chairman, and then executive chair from June 2019 to June 2022. Brown previously served as chairman, president, and chief executive officer of Harris Corporation prior to its merger with L3 Technologies in 2019. He joined Harris Corporation in November 2011 as president and chief executive officer. Prior to Harris Corporation, Brown spent 14 years at United Technologies Corporation (UTC) serving in a variety of leadership roles.

Roman will continue to chair 3M's Board of Directors and provide insights from his more than 35 years with 3M to the company's strategic direction as executive chairman of the board. He has served as 3M's CEO since July 2018. Roman might not have been a bad CEO, but bad things happened to the company on his watch, so he gets the blame. The stock is +5% in PM trading.

👍️0

DewDiligence 1 month ago

Details of 3M’s SOLV spinoff finalized:

https://finance.yahoo.com/news/3m-board-directors-approves-spin-165500127.html

3M shareholders of record on 3/18/24 will receive 1 share of SOLV for every 4 shares of 3M. The SOLV shares will be distributed before the market open on 4/1/24.

This is a tax-exempt distribution for US residents.

👍️0

DewDiligence 2 months ago

Further details of 3M/SOLV capitalization:

SOLV will sell $8.4B of new debt, keeping $600M of the proceeds and paying $7.7B as a one-time (tax-free) dividend to 3M. (~$100M of the debt proceeds will go to underwriting fees.)

After the debt issuance and one-time payment to 3M, SOLV will have a debt/EBITDA ratio of ~3.5.

👍️0

DewDiligence 2 months ago

3M’s Solventum spin slated for 4/1/24—Nasdaq symbol=‘SOLV’—Investor Day 3/19/24:

https://finance.yahoo.com/news/3m-announces-filing-form-10-150000365.html

See #msg-173870424, #msg-173870432, and #msg-173870470 for related info.

👍️0

DewDiligence 2 months ago

Are market conditions such that 3M views the spinoff as a good way to pay down debt, or obtain funds for further innovation in the medical device sector or pharmaceutical/biotech sector? Funds for M/A with a target in mind? The spinoff will include a large one-time cash transfer from Solventum to the post-spin 3M. 3M will use this cash to pay down debt and/or to help fund the earplug and PFAS legal settlements.

The post-spin 3M will almost certainly refrain from material M&A for a few years; it will instead focus on re-igniting organic growth and paying the legal settlements mentioned above.

On the other hand, Solventum could be a takeover target for a company such as DHR or TMO.

👍️0

DewDiligence 2 months ago

3M will retain a 19.9% stake in Solventum following the spinoff. 3M plans to sell these shares gradually over a 5-year period.

👍️0

DewDiligence 2 months ago

These are the five focal areas for 3M’s healthcare business that will become part of Solventum; they comprise about 25% of 3M’s current company-wide sales:

https://engage.3m.com/purification

https://www.3m.com/3M/en_US/health-information-systems-us/

https://www.3m.com/3M/en_US/medical-us/ (surgical supplies and wound care)

https://www.3m.com/3M/en_US/medical-device-components-us/ (components for other companies’ medical devices)

https://www.3m.com/3M/en_US/oral-care-us/ (dentistry and othodontics)

👍️0

north40000 2 months ago

What do you see as the main focus of that 3M healthcare unit? Consumer goods like Kenvue? Will 3M retain a substantial equity position like JNJ did with Kenvue? Are market conditions such that 3M views the spinoff as a good way to pay down debt, or obtain funds for further innovation in the medical device sector or pharmaceutical/biotech sector? Funds for M/A with a target in mind?

👍️0

DewDiligence 2 months ago

As noted, the point was to keep the streak alive.

This year, however, the streak will presumably be broken when 3M spins off its healthcare business, Solventum.

👍️0

bar1080 2 months ago

Wow, that's a puny increase. But thanks

👍️0

DewDiligence 2 months ago

3M increases dividend for 66th consecutive year:

https://investors.3m.com/news-events/press-releases/detail/1823/3m-board-declares-quarterly-dividend

The quarterly change was only a penny—from $1.50 to $1.51—so it’s clear that the increase is mainly to keep the streak alive.

At the current share price ($91.25), the new annualized payout of $6.04 equates to a dividend yield of 6.6%.

👍️0

DewDiligence 3 months ago

3M 4Q23 CC transcript:

https://finance.yahoo.com/news/q4-2023-3m-co-earnings-074558652.html

👍️0

DewDiligence 3 months ago

3M clarification—The 2024 guidance in the preceding post is on a pro forma basis including the healthcare segment being part of 3M for the full year. After the healthcare spinoff, slated for 1H24, 3M will issue updated 2024 guidance for the company excluding the healthcare segment.

👍️ 1

DewDiligence 3 months ago

3M reports 4Q23 results—issues (tepid) 2024 guidance:

https://investors.3m.com/news-events/press-releases/detail/1821/3m-delivers-strong-fourth-quarter-results-improves

4Q23 non-GAAP EPS—which excludes the cost of the announced earplug and PFAS settlements and related legal expenses —was $2.42, +11% YoY.

4Q23 sales were $8.0B, -0.8% YoY.

4Q23 organic sales growth (excluding FX, acquisitions, and divestitures) was -1.9% YoY.

3M issued 2024 non-GAAP EPS guidance—which excludes the cost of the announced earplug and PFAS settlements and related legal expenses—of $9.35-9.75, +1-6% YoY vs $9.24 in 2023.

2024 guidance for sales growth is 0.25-2.25%. 2024 guidance for organic sales growth is 0-2.0%.

3M’s healthcare spin-off, Solventum, is still slated to occur during 1H24; see #msg-173243340 for related info.

CC slides:
https://d1io3yog0oux5.cloudfront.net/_b81fdcf4b61b3aa85cc07b8e46d6f76a/3m/db/3222/30800/presentation/Q4+2023+Earnings+Slides.pdf

Financial statements:
https://d1io3yog0oux5.cloudfront.net/_b81fdcf4b61b3aa85cc07b8e46d6f76a/3m/db/3222/30800/financial_statement/Q4+2023+Financial+Statement+Information.pdf

👍️0

Greedy G 3 months ago

~bought 1/26 $120 calls @.10c

👍️0

DewDiligence 3 months ago

3M earplug settlement gets 100% buy-in from pre-existing plaintiffs in class action:

https://finance.yahoo.com/news/combat-arms-earplug-settlement-achieves-114500350.html

See #msg-172712175 for background info.

👍️0

MrsPeng 4 months ago

I learned about 3M and some other top brands in the world from this article:https://www.zxmedppe.com/top-10-personal-protective-equipment-suppliers/

👍️ 1

DewDiligence 5 months ago

3M names healthcare spinoff, Solventum—a portmanteau of “solving” and “momentum”:

https://finance.yahoo.com/news/3m-reveals-solventum-name-planned-160100532.html

The healthcare segment comprises about 25% of 3M's worldwide sales, and it has a higher profit margin than the company as a whole.

3M has not yet disclosed whether the spin will be accomplished via a direct distribution to 3M shareholders or via a voluntary exchange offer; in either case the spin, which is planned for 1H24, is tax-free for 3M’s US shareholders. More info is available at https://www.3m.com/3M/en_US/health-care-us/?utm_term=hcbg-hcbs-na-en_us-ba-soft_spin-offa-vn-na-na-na-nov23-00000 .

👍️0

DewDiligence 6 months ago

3M 3Q23 CC transcript:

https://finance.yahoo.com/news/3m-company-nyse-mmm-q3-141732896.html

👍️0

DewDiligence 6 months ago

3M reports 3Q23 results—raises 2023 non-GAAP EPS guidance:

https://d1io3yog0oux5.cloudfront.net/_5cbb10b61269071d28abdd0a87b39497/3m/db/3222/30718/earnings_release/Q3+2023+Press+Release.pdf

3Q23 non-GAAP EPS was $2.68, up from $2.60 in 3Q22, and ahead of consensus expectations.

3M raised 2023 non-GAAP EPS guidance (which excludes the $10.3B+ PFAS settlement announced in June [#msg-172192818]) to $8.95-9.15 (from the prior range of $8.60-$9.10).

3M’s healthcare spin-off is now slated to occur during 1H24.

CC slides:
https://d1io3yog0oux5.cloudfront.net/_5cbb10b61269071d28abdd0a87b39497/3m/db/3222/30718/presentation/Q3+2023+Earnings+Presentation.pdf

Financial statements:
https://d1io3yog0oux5.cloudfront.net/_5cbb10b61269071d28abdd0a87b39497/3m/db/3222/30718/financial_statement/Q3+2023+Financial+Statement+Information.pdf

👍️0

DewDiligence 6 months ago

WSJ feature story on 3M:

https://www.wsj.com/business/3m-innovation-scientists-lawsuits-contamination-5a48d46f

https://www.openweb.com/share/2WMBUtXNRkflqADV4Jdam9PKqZ1

👍️ 1

Futurecash 7 months ago

Saw it coming back in March. Closed my puts. Made a fortune.

👍️0

bar1080 8 months ago

"3M's legal troubles aren't over despite $18.5 billion in settlements"

"3M (MMM) is trying to put the country’s largest-ever mass tort case behind it. Even if it does, its legal problems are far from over.

The Minnesota conglomerate announced Tuesday it had agreed with plaintiffs attorneys to a $6 billion settlement that would end thousands of lawsuits from more than 260,000 veterans alleging earplugs made by a subsidiary caused hearing loss.

3M would make the payments between 2023 and 2029, splitting it between $5 billion in cash and $1 billion in stock, so long as the equity commitment is approved by the court."

https://finance.yahoo.com/news/3ms-legal-troubles-arent-over-despite-185-billion-in-settlements-115913197.html

👍️0

DewDiligence 8 months ago

3M’s earplug settlement_is_official—NPV=$5.3B pre-tax/$4.0-4.5B after-tax:

https://www.sec.gov/Archives/edgar/data/66740/000006674023000073/a829238kex-991.htm

• 3M will pay the earplug plaintiffs a cumulative $6.0B (consisting of $5B cash and $1B stock) over seven years (2023-2029). These payment obligations have a pre-tax net present value (NPV) of $5.3B (using a 5.6% discount rate).

• The anticipated schedule of settlement payments is set forth in slide #6 of today’s CC slide deck: https://d1io3yog0oux5.cloudfront.net/_301a30c91c73d8aa14cff777dcbd5df5/3m/db/3194/30703/presentation/CAE+Resolution+Presentation.pdf . 3M already reserved $1.1B for this liability, so a new $4.2B pre-tax charge to GAAP earnings will be made in 3Q23.

• 3M expects that the settlement payments will be fully tax-deductible, so the NPV of the settlement payments on an after-tax basis is in the $4.0-4.5B range.

• 3M hopes to recover as much as $1.5B of the settlement amount from liability insurance. Any recovery from insurance will reduce the settlement NPV; in the best-case scenario, the after-tax NPV of the settlement would be approximately $3B.

👍️0

DewDiligence 8 months ago

I expected a somewhat bigger bounce today, but I suppose that will come when the settlement deal is inked.

👍️0

KingOfSwing...Trading 8 months ago

Great news for us!

👍️0

DewDiligence 8 months ago

3M close_to_inking $5.5B earplug settlement, according_to_sources:

https://www.wsj.com/business/3m-nears-settlement-for-about-5-5-billion-to-resolve-earplugs-complaints-94e9f31e 3M and plaintiffs attorneys are nearing a settlement that would resolve hundreds of thousands of claims by veterans that earplugs made by the company and a subsidiary failed to protect them from hearing loss. Under the terms being discussed, 3M would pay about $5.5 billion, people close to the discussions said.

…The earplug litigation has become the largest mass tort in U.S. history, with more than 300,000 claims. Veterans allege that 3M and Aearo Technologies, a company 3M acquired in 2008, produced faulty earplugs that failed to protect their hearing from noise damage when issued to them by the U.S. military. 3M is contesting the cases, and has said the earplugs work correctly when used with proper training.

The settlement amount being considered is substantially less than the $10 billion to $15 billion that some analysts have predicted the case would cost 3M. The possible settlement was earlier reported by Bloomberg News. This is hugely bullish for 3M if it pans out.

👍️0

DewDiligence 8 months ago

ZBH CEO will become CEO of 3M’s healthcare spinoff:

https://finance.yahoo.com/news/bryan-hanson-named-ceo-3ms-122300047.html

https://finance.yahoo.com/news/zimmer-biomet-announces-leadership-transition-122000860.html

👍️0

DewDiligence 9 months ago

Correction—3M’s healthcare spinoff is now slated for late 2023 or early 2024.

👍️0

DewDiligence 9 months ago

3M reports 2Q23 results—raises non-GAAP EPS guidance slightly…

PR:
https://investors.3m.com/news-events/press-releases/detail/1790/3m-reports-second-quarter-2023-results-proactive

CC slides:
https://d1io3yog0oux5.cloudfront.net/_42242654f7d5954ba2f4fd7c7044914f/3m/db/3222/30683/presentation/Q2+2023+Earnings+Presentation.pdf

2Q23 non-GAAP EPS was $2.17, down from $2.45 in 2Q22; however, 2Q23 cash flow from operations was +34% YoY due, in large part, to cost-cutting initiatives (#msg-171766597), which raised operating margins by 140 basis points YoY.

2Q23 sales of $8.33B were -4% YoY, but exceeded consensus expectations.

3M raised 2023 non-GAAP EPS guidance (which excludes the $10.3B+ PFAS settlement announced in June [#msg-172192818]) to $8.60-9.10 (up $0.10 from the prior range of $8.50-$9.00).

3M’s healthcare spin-off remains on track for closing in 2023.

👍️0

DewDiligence 10 months ago

3M settles PFAS litigation_vs_US_municipalities_for $10.3B NPV— payable_over_13 years—(2024-2036):

https://www.sec.gov/ix?doc=/Archives/edgar/data/0000066740/000006674023000048/mmm-20230622.htm

The actual cumulative dollar amount to be paid (not discounted for NPV purposes) will be $10.5-12.5B.

👍️ 1

bar1080 10 months ago

"3M Can’t Resolve Mass Lawsuits Through Earplug Unit’s Bankruptcy, Judge Rules"

"Bankruptcy judge throws out 3M’s plan to use chapter 11 to resolve mass litigation alleging its combat earplugs harmed U.S. military service members"

https://www.wsj.com/articles/judge-throws-out-3m-earplug-units-bankruptcy-b486926f

👍️0

Solarman 10 months ago

$MMMW Mass Megawatts announced today about a new product. Based on my publicly available conversation , the company seems to be interested in 3M film which means that 3M might be in an important role to cheaper renewable energy and top corporate management may not know about it ( at least until maybe somebody tells them like perhaps someone in the sales department). Hopefully, they will know and maybe give a special effort to move the process in way that we cannot imagine).

👍️0

Kswies 10 months ago

I'm interested! Let's hear it!

👍️0

DewDiligence 10 months ago

3M is giving back some of Friday’s 8% gain because the settlement reported by Bloomberg is apparently not yet a fait accompli:

https://www.wsj.com/articles/trial-in-litigation-over-forever-chemicals-delayed-for-settlement-talks-2cfd56da

👍️0

KingOfSwing...Trading 10 months ago

I am very interested

👍️0

DewDiligence 10 months ago

Please elaborate. TIA

👍️0

Solarman 10 months ago

Solar energy. They contribute with a good part for newer solar technology. If you are interested, please let me know.

👍️0

DewDiligence 10 months ago

Which application are you referring to?

👍️0

Solarman 11 months ago

3M has great technology for application not yet marketed.

👍️0

grcramvaidhya 11 months ago

This stock MMM formed excellent technical GAP up with good volume. May go up easily higher in coming days. My short term projection is about 114 $

👍️0

DewDiligence 11 months ago

3M reaches—(tentative)—$10B+ PFAS settlement with US municipalities, according_to_Bloomberg:

https://www.bloomberg.com/news/articles/2023-06-02/3m-said-to-be-in-at-least-10-billion-pfas-pollution-settlement-lieqkmut

👍️0

Lowjack 11 months ago

Earplugs don't cause hearing loss! Strong pressure waves do!

👍️0

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

3M Company (MMM)

Get an advanced news scanner tailored to your needs by ADVFN

MMM News

SCOTCH-BRITE CONTINUES TO BUILD SUSTAINABILITY INTO ITS GREENER CLEAN PRODUCTS

3M Announces Upcoming Investor Event

3M launches new Verify app to help tackle counterfeit personal protective equipment

3M Settlement with Public Water Suppliers to Address PFAS in Drinking Water Receives Final Court Approval

3M Completes Spin-off of Solventum

GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600

3M invests in hydrogen electrolyzer manufacturer EVOLOH

Combat Arms Earplugs Settlement Moves to Final Resolution

3M introduces a world's first innovation to help redefine shipping and packaging

Solventum Hosts Inaugural Investor Day Ahead of Its Planned Spinoff from 3M

Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News

3M Announces New Leadership Appointments

Form 8-K - Current report

3M Board of Directors Approves Spin-off of Solventum

MMM Discussion

Your Recent History

Company

Business

Popular

Get The App

Trending Now

Toplists

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

3M Company (MMM) News

3M Company (MMM)

Get an advanced news scanner tailored to your needs by ADVFN

MMM News

SCOTCH-BRITE CONTINUES TO BUILD SUSTAINABILITY INTO ITS GREENER CLEAN PRODUCTS

3M Announces Upcoming Investor Event

3M launches new Verify app to help tackle counterfeit personal protective equipment

3M Settlement with Public Water Suppliers to Address PFAS in Drinking Water Receives Final Court Approval

3M Completes Spin-off of Solventum

GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600

3M invests in hydrogen electrolyzer manufacturer EVOLOH

Combat Arms Earplugs Settlement Moves to Final Resolution

3M introduces a world's first innovation to help redefine shipping and packaging

Solventum Hosts Inaugural Investor Day Ahead of Its Planned Spinoff from 3M

Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News

3M Announces New Leadership Appointments

Form 8-K - Current report

3M Board of Directors Approves Spin-off of Solventum

MMM Discussion

Your Recent History

Company

Business

Popular

Get The App