$MMM (3M Company)

$MMM {{ '2016-07-11T14:31:22+0000' | timeago}} • Announcement

Technology company $MMM said it has named Dr. Michael G. Vale as EVP, Health Care Business Group, and Dr. Joaquin Delgado as EVP, Consumer Business Group, effective immediately. Dr. Vale was previously EVP of the Consumer Business Group while Dr. Delgado was previously EVP of the Health Care Business Group.

$MMM {{ '2017-12-12T12:44:09+0000' | timeago}} • Announcement

$MMM said it expects GAAP EPS of $9.60 to $10.00 in FY18, up 6-10% YoY. Meanwhile, total sales during this period are anticipated to grow 5-7%.

$MMM {{ '2017-12-11T14:20:33+0000' | timeago}} • Announcement

$MMM entered into agreements related to the sale of substantially all of its Communication Markets Division to Corning Incorporated, for $900MM. The sale is expected to be completed in 2018. $MMM expects to realize a gain of about $0.40 per share from this transaction, net of actions related to the divestiture.

$MMM {{ '2017-12-04T18:07:40+0000' | timeago}} • Announcement

$MMM filed a patent infringement lawsuit in federal district court in Wilmington, Del., last week against Kerr Corp, alleging that certain Kerr Corp’s dental composite materials infringe 3M’s patent rights.

$MMM {{ '2017-11-15T16:26:53+0000' | timeago}} • Announcement

$MMM appointed Kristen Ludgate as SVP, Corporate Communications and Enterprise Services, effective Jan. 1, 2018. Kristen will replace Kimberly Price, who has announced her intention to retire, effective March 1, 2018.

$MMM {{ '2017-11-15T11:54:36+0000' | timeago}} • Announcement

$MMM declared a dividend on the company’s common stock of $1.175 per share for 4Q17, payable Dec. 12, 2017, to shareholders of record at the close of business on Nov. 24, 2017.

$JCI {{ '2017-11-09T15:12:55+0000' | timeago}} • Announcement

$JCI, which completed the sale of Scott Safety business to $MMM in Oct. 2017, reported 4Q17 net income of $875MM compared to a loss of $1.17Bil a year ago. GAAP EPS was $0.93 versus a loss of $1.61 per share. Sales of $8.1Bil increased 4% on a combined basis. On an adjusted basis, Johnson Controls earned $0.87 per share.

$MMM {{ '2017-10-24T18:33:11+0000' | timeago}} • Webcast

$MMM said the divestiture of the electronic monitoring business is expected to have a net positive impact of $0.12 to earnings in 4Q17. Meanwhile the Scott Safety income, net of acquisition and integration costs, is expected to reduce EPS by $0.08 during this period.

$MMM {{ '2017-10-24T15:46:49+0000' | timeago}} • Infographic

$MMM 3M Earnings AlphaGraphic: Q3 2017 Highlights

$MMM {{ '2017-10-24T15:07:03+0000' | timeago}} • Announcement

$MMM raised its guidance for FY17. The industrial giant now sees organic local-currency sales growth of 4-5%, higher than the previous guidance of 3-5%. 3M anticipates EPS of $9.00-9.10 per share during this period – up 10-12% YoY – vs the prior outlook of $8.80-9.05.

$MMM {{ '2017-10-24T14:54:23+0000' | timeago}} • Announcement

Sending shares up over 5%, $MMM reported a 6% increase in its 3Q17 sales to $8.2Bil. The sales hike was led by 13% gains in its Electronics and Energy segment, as well as a 6% sales growth in its largest unit, Industrial. Net income grew to $1.43Bil, or $2.33 per share, compared to $1.33Bil, or $2.15 per share in the same quarter last year.

$MMM {{ '2017-10-05T19:53:45+0000' | timeago}} • Announcement

$MMM announced the early tender results of its previously announced tender offers to purchase for cash up to $400MM aggregate principal amount of its 5.70% notes due 2037 and 6.375% debentures due 2028. The company said it has exercised its option to have an early settlement date on Oct. 6, 2017

$JCI {{ '2017-10-05T11:28:33+0000' | timeago}} • Announcement

$JCI has completed the previously announced sale of its Scott Safety business to $MMM for approx $2Bil. Net cash proceeds from the transaction were $1.9Bil, and will be used to repay a portion of Tyco International Holding Sarl's $4Bil of merger-related debt.

$MMM {{ '2017-10-04T21:03:26+0000' | timeago}} • Announcement

$MMM completed its acquisition of Scott Safety from $JCI for a total enterprise value of $2.0Bil. The company estimates the acquisition to be $0.08 dilutive to earnings in 4Q17.

$MMM {{ '2017-10-03T13:42:09+0000' | timeago}} • Announcement

$MMM has completed the sale of its electronic monitoring business to funds advised by Apax Partners, a global private equity advisory firm, for approx $200MM, net of cash sold and closing adjustments. 3M will record about $0.12 per share benefit in 4Q17 from this divestiture.

$MMM {{ '2017-10-02T14:35:05+0000' | timeago}} • Announcement

$MMM appointed Paul Keel as SVP of Business Development and Marketing-Sales, and Jon Lindekugelas SVP of Supply Chain. These appointments are effective Oct. 1, 2017. Paul and Jon will continue to report to H.C. Shin, vice chair and executive vice president.

$MMM {{ '2017-08-15T22:17:38+0000' | timeago}} • Announcement

$MMM declared a dividend on its common stock of $1.175 per share for 3Q17, payable Sept. 12, 2017, to shareholders of record on Aug. 25, 2017.

$MMM {{ '2017-08-14T16:36:30+0000' | timeago}} • Announcement

$MMM, a technology company, announced that Amy Hood, EVP and CFO of $MSFT has been elected to 3M's BoD, effective Aug 13, 2017. At Microsoft, Hood is responsible for looking after acquisitions, treasury activities, accounting and internal audit, in a position she has held since July 2013. She will serve on the 3M board's finance committee.

$MMM {{ '2017-08-14T12:52:04+0000' | timeago}} • Announcement

$MMM said Amy Hood, $MSFT CFO, has been elected to its BoD, effective Aug 13, 2017. Hood will serve on the 3M Board’s finance committee.

$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.

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