$MMM (3M Company)

$MMM {{ '2016-09-07T05:48:36+0000' | timeago}} • Announcement

Post-it products and scotch tapes maker $MMM said it has acquired Swiss medical coding technology company Semfinder. The acquisition provides a new coding technology that enables $MMM to accelerate the availability of its 3M 360 Encompass System in countries adopting electronic medical records. Terms of the acquisition were not provided.

$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.

$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.

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