3M Company (NYSE: MMM), a leading manufacturer and distributor of industrial products and solutions, reported a decline in adjusted earnings for the fourth quarter of 2024.
- Fourth-quarter sales remained broadly unchanged at $6.0 billion; adjusted organic sales increased 2.1% year-over-year
- Adjusted earnings from continuing operations decreased 2% annually to $1.68 per share during the three months
- On a reported basis, earnings from continuing operations were $1.33 per share in Q4, up 17% from last year
- Adjusted operating income margin was 19.7% in the fourth quarter, a decrease of 0.2 percentage points year-on-year
- During the quarter, the company returned $1.1 billion to shareholders in the form of dividends and share repurchases
- Cash from operations was $1.8 billion in the December quarter; adjusted free cash flow came in at $1.3 billion
- In fiscal 2025, the management expects adjusted sales to grow in the range of 0.5 %to 1.5%, reflecting adjusted organic sales growth of 2-3%
- Full-year adjusted profit is expected to be between $7.60 per share and $7.90 per share