$MMM (3M Company)

$MMM {{ '2016-07-26T12:33:16+0000' | timeago}} • Announcement

$MMM narrowed its 2016 EPS guidance to range of $8.15-8.30 from previous forecast of $8.10-8.45. This revised forecast represents a YoverY growth of 8-10%. The company lowered its 2016 tax rate outlook to range of 29-29.5% from previous estimate of $29.5-30.5%.

$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.

$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.

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