3M Q1 Report 2024

3M reported first-quarter results and initiated its 2024 financial earnings outlook reflecting Solventum as a discontinued operation for the full year, including Q1.

“We delivered results that were better than our expectations as we returned to organic growth and achieved double-digit adjusted earnings growth. We improved performance in our businesses through strong operational execution, completed the spin-off of Solventum, and finalized two major legal settlements,” said 3M chairman and CEO Mike Roman. “The progress we have made in executing our strategic priorities, positions the company for long-term shareholder value creation as Bill Brown assumes the role of 3M CEO.”

Highlights

  • Company delivers strong first quarter results:
  • Sales of $8.0 billion, down 0.3% YoY; adjusted sales of $7.7 billion with organic growth up ~1% YoY
  • GAAP earnings per share of $1.67, down 5% YoY; adjusted earnings of $2.39, up double digits YoY
  • Successfully completed the spin of Solventum on April 1st
  • Finalized legal settlements for Public Water Suppliers and Combat Arms Earplugs
  • Initiates guidance on a continuing operations basis and updates capital allocation framework
  • Named William “Bill” Brown as CEO effective May 1st; Mike Roman will become Executive Chairman

Free Trial

Step 1 of 2

Name(Required)

By pressing “Send” you agree to the Privacy Policy of this site

No Credit Card needed, after filling up the form you will receive your Free-Trial login information in 24 to 48 hours by e-mail.

ImprintPrivacy Policy

All Rights Reserved © aicorite.com