3M Co. (MMM) Misses Q4 EPS by 9c; Guides FY23 Below Views, To Cut 2,500 Jobs

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Go back to 3M Co. (MMM) Misses Q4 EPS by 9c; Guides FY23 Below Views, To Cut 2,500 Jobs

3M Reports Fourth-Quarter and Full-Year 2022 Results

January 24, 2023 6:30 AM EST

ST. PAUL, Minn., Jan. 24, 2023 /PRNewswire/ -- 3M (NYSE: MMM) today reported fourth-quarter and full-year 2022 results and provided its 2023 financial outlook.

"3M continues to focus on delivering for customers and shareholders in a challenging economic environment," said 3M chairman and CEO Mike Roman. "We posted organic growth of 0.4 percent -- versus our expectation of 1 to 3 percent -- adjusted margins of 19.1 percent, and adjusted earnings of $2.28 per share. The slower-than-expected growth was due to rapid declines in consumer-facing markets a dynamic that accelerated... More