Categories Earnings, Industrials

Earnings Summary: Highlights of 3M Company’s Q1 2024 report

3M Company (NYSE: MMM), a leading manufacturer and distributor of industrial products and solutions, Tuesday announced first-quarter results, reporting an increase in adjusted profit and flat sales.

  • First-quarter sales remained broadly unchanged year-over-year at $8.0 billion, organic sales grew around 1% YoY
  • Earnings, on a per-share basis, decreased 5% annually to $1.67 in Q1; adjusted earnings climbed 21% to $2.39 per share
  • Adjusted operating income margin was 21.9%, an increase of 4 percentage points year-on-year
  • 3M generated operating cash flow of $0.8 billion in Q1; adjusted free cash flow was $0.8 billion
  • During the quarter, around $835 million was returned to shareholders in the form of dividends
  • Recently, the company completed the spin-off of its healthcare business Solventum
  • It has named William Brown as CEO effective May 1st; Mike Roman will become Executive Chairman

Most Popular

ADBE Earnings: Adobe reports higher Q2 earnings; results beat estimates

Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in second-quarter 2024 revenue and earnings. The results also topped expectations. Second-quarter revenues came in at $5.31 billion,

Dollar Tree (DLTR): A look at the discount retailer’s growth initiatives at its namesake banner

Shares of Dollar Tree, Inc. (NASDAQ: DLTR) were down over 1% on Thursday. The stock has dropped 24% year-to-date. The company delivered sales and GAAP earnings growth for the first

Key highlights from Signet Jewelers’ (SIG) Q1 2025 earnings results

Signet Jewelers Limited (NYSE: SIG) reported first quarter 2025 earnings results today. Sales decreased 9.4% year-over-year to $1.5 billion. Sales were down 9.6% on a constant currency basis. Same-store sales

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top