$MMM (3M Company)

$MMM {{ '2015-11-11T18:42:04+0000' | timeago}} • SEC

In October 2015, $MMM announced a restructuring plan that will result in an expected reduction of 1,500 positions worldwide with estimated pre-tax savings of $130MM in 2016. Related to this plan, $MMM anticipates a 4Q15 pre-tax charge of approx. $100MM, or $0.13 per diluted share.

$MMM {{ '2017-07-25T17:59:58+0000' | timeago}} • Webcast

$MMM said it had reduced prices of a number of products in 2Q17 to accelerate growth in areas where price seemed to be a barrier. The St Paul, Minnesota-based company added that it is currently at the peak of price declines and expects an upstick in pricing in 2H17.

$MMM {{ '2017-07-25T17:38:50+0000' | timeago}} • Webcast

$MMM, which makes Post-It notes, said it saw organic growth in three of its four Consumer segment businesses in 2Q17, namely Home Improvement, Home Supplies and Consumer Healthcare. Meanwhile, its Stationery and Office Supplies business was again impacted by inventory reductions in the US office retail and wholesale channels.

$MMM {{ '2017-07-25T17:23:43+0000' | timeago}} • Webcast

$MMM said it expects 20-25 cents per share impact from incremental strategic investments in 2H17, which is expected to drive greater productivity from its manufacturing and supply chain base.

$MMM {{ '2017-07-25T13:22:56+0000' | timeago}} • Infographic

$MMM 3M Earnings AlphaGraphic: Q2 2017 Highlights

$MMM {{ '2017-07-25T12:44:59+0000' | timeago}} • Announcement

On a geographic basis, $MMM saw highest growth in Asia Pacific region in 2Q17, where sales grew 8.3%. In other locations, sales increased 2.5% in Latin America/Canada, and 0.5% in the US. Meanwhile, total sales declined 3.6% in EMEA.

$MMM {{ '2017-07-25T12:41:50+0000' | timeago}} • Announcement

In 2Q17, $MMM's sales grew 7.5% in Electronics and Energy, 2.5% in Industrial and 1.8% in Health Care. Consumer continued to be an area of concern, where the company managed just 0.5% growth. Meanwhile, sales declined 0.9% in Safety and Graphics segment.

$MMM {{ '2017-07-25T12:23:15+0000' | timeago}} • Announcement

$MMM raised the lower end of its FY17 EPS outlook. It now expects GAAP EPS of $8.80-9.05, compared to the earlier forecast of $8.70-9.05.

$MMM {{ '2017-07-25T12:16:01+0000' | timeago}} • Announcement

Manufacturing company $MMM reported 24% jump in EPS to $2.58 in 2Q17, as sales inched up 2% to $7.8Bil. The sales growth was driven by its Electronics and Energy segment, as well as the Asia Pacific operations. Net income attributable to 3M was $1.58Bil, compared to $1.29Bil a year ago. Operating margin grew 3.6 percentage points to 28%.

$MMM {{ '2017-06-30T15:31:24+0000' | timeago}} • Announcement

$MMM completed the sale of its tolling and automated license/number plate recognition business to Neology, which is a subsidiary of SMARTRAC, a portfolio company managed by One Equity Partners. The impact of the transaction will be neutral to both 2Q17 and full-year 2017 GAAP EPS.

$MMM {{ '2017-05-10T16:14:15+0000' | timeago}} • Announcement

$MMM agreed to sell its tolling and automated license/number plate recognition business, which is part of $MMM's Traffic Safety and Security Division, to Neology, which is a subsidiary of SMARTRAC. The transaction is expected to close by 3Q17. About 85 employees are expected to join Neology upon completion of the sale.

$MMM {{ '2017-05-09T17:59:15+0000' | timeago}} • Webcast

$MMM's shareholders elected the 11 nominees to its BoD for a one-year term that expires at the 2018 Annual Meeting. They also ratified appointment of PricewaterhouseCoopers as independent registered public accounting firm for 2017, approved executive compensation, and indicated a preference for future advisory votes on executive compensation.

$MMM {{ '2017-05-02T13:36:31+0000' | timeago}} • Announcement

$MMM completed the sale of its identity management business to Gemalto. About 450 $MMM employees are expected to join Gemalto or one of its affiliates. $MMM will record a $0.05-0.10 per share benefit from this divestiture, net of various investments to drive growth and improve productivity.

$MMM {{ '2017-04-25T17:41:59+0000' | timeago}} • Webcast

$MMM spent an additional $136MM in 1Q17 in strategic investments. In last March, the company laid out a five year plan for optimizing the portfolio and supply chain footprint for a total of $500-600MM. By 2020, $MMM wanted to generate $125-175MM of annualized operating income benefit.

$MMM {{ '2017-04-25T17:11:15+0000' | timeago}} • Infographic

$MMM 3M Co. Earnings AlphaGraphics: Q1 2017 highlights

$MMM {{ '2017-04-25T12:09:05+0000' | timeago}} • Announcement

In 1Q17, $MMM posted sales of $2.7Bil in its Industrial segment, up 4.2% versus 1Q16. In Safety and Graphics, sales were $1.5Bil, up 3.4%. Health Care sales grew 2.3% to $1.4Bil. Electronics and Energy sales rose 11.1% to $1.2Bil while Consumer sales were $1Bil, down 0.7% versus 1Q16.

$MMM {{ '2017-04-25T12:03:59+0000' | timeago}} • Announcement

For 2017, $MMM expects organic local-currency sales growth to be 2-5%. $MMM expects EPS to be $8.70-9.05, up 7-11% YoY. This includes a $0.05-0.10 benefit from the gain on sale of the pending Identity Management divestiture, net of various investments to drive growth and improve productivity. Tax rate is expected to be 26-27.5%.

$MMM {{ '2017-04-25T11:58:51+0000' | timeago}} • Announcement

$MMM reported net income of $1.3Bil for 1Q17, up 3.7% compared to 1Q16. Diluted EPS was $2.16, up 5.4% versus 1Q16. Sales were $7.7Bil, up 3.7% YoY. Organic local-currency sales increased 4.6% while divestitures reduced sales by 0.4%. Foreign currency translation decreased sales by 0.5% YoY.

$MMM {{ '2017-04-03T17:53:09+0000' | timeago}} • Announcement

$MMM and 3M Innovative Properties Co. filed a patent infringement lawsuit on April 3, 2017, in the District of Delaware against $APH. The suit alleges that certain $APH data transmission cable products infringe 2 Shielded Electrical Cable patents.

$JCI {{ '2017-03-16T14:40:39+0000' | timeago}} • Announcement

$JCI signed a definitive agreement to sell its Scott Safety business to $MMM for about $2Bil in cash. Net proceeds of $1.8-1.9Bil from the deal will be used to repay a portion of Tyco International Holding Sarl's $4.0Bil merger-related debt. The transaction is expected to close in the second half of 2017.

$MMM {{ '2017-03-16T13:22:53+0000' | timeago}} • Announcement

$MMM agreed to buy Scott Safety from $JCI. On GAAP basis, $MMM expects the acquisition to be $0.10 dilutive to earnings in the first 12 months following completion of the transaction. Excluding items, $MMM expects the acquisition to be $0.10 accretive to earnings over the same period. The deal will close in 2H17.

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