3M Co

MMM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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3M Earnings: Weak Organic Growth but More Changes Under CEO Bill Brown

Nicholas Lieb

Oct 22, 2024

Along with its third-quarter earnings release on Oct. 22, narrow-moat 3M raised the low end of its expected range for full-year adjusted earnings per share. However, organic sales declined 0.1% year over year in the quarter, stemming from product line adjustments in the wake of PFAS lawsuits, declining demand in the Europe, Middle East, and Africa region, and the cessation of operations in smaller countries. We maintain our $89 fair value estimate.

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3M Co

3M Earnings: Weak Organic Growth but More Changes Under CEO Bill Brown

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