secwatch.observer — SEC 8-K summary
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Issuer:     3M CO (MMM)
CIK:        0000066740
Form:       8-K
Filed at:   2023-01-24T23:59:59+00:00
Accession:  0000066740-23-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

3M Q4 adjusted EPS $2.28, sales $8.1B; FY23 guidance weak; to cut 2,500 jobs
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- Q4 GAAP EPS $0.98 vs $2.31 y/y; adjusted EPS $2.28 vs $2.45; sales $8.1B (-6% YoY, organic +0.4%, missing guidance).
- Full-year 2022 adjusted EPS $10.10, down 6% from $10.73; sales $34.2B (-3%).
- FY23 guidance: adjusted EPS $8.50-$9.00 (vs $9.88 in 2022); adjusted organic sales growth -3% to flat.
- Plan to cut ~2,500 global manufacturing roles; Q1 restructuring charge $75M-$100M.
- PFAS manufacturing exit by end of 2025; beginning in 2023, adjusts PFAS results out of non-GAAP.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66740/000006674023000003/0000066740-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66740/000006674023000003/mmm-20230124.htm
  HTML page:      https://secwatch.observer/filing/0000066740-23-000003

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