3M (MMM) beats Q1 estimates, forecasts 40% dividend payout ratio; shares rise
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3M First-Quarter Results Driven by Strong Operational Performance; Company Initiates Full-Year 2024 Guidance Reflecting Completion of Solventum Spin
April 30, 2024 6:30 AM EDTCompany delivers strong first quarter results:Sales of $8.0 billion, down 0.3%Â YoY; adjusted sales of $7.7 billion with organic growth up ~1% YoYGAAP earnings per share of $1.67, down 5%Â YoY; adjusted earnings of $2.39, up double digits YoYSuccessfully completed the spin of Solventum on April 1stFinalized legal settlements for Public Water Suppliers and Combat Arms EarplugsInitiates guidance on a continuing operations basis and updates capital allocation frameworkNamed William "Bill" Brown as CEO effective May... More
