3M Q1 adj. EPS $2.39 (+21% YoY), Solventum spin complete, Bill Brown named CEO

3M CO

2024-Q1 EPS reported $1.67 revenue$8,003,000,000

Q1 sales $8.0B (-0.3% YoY); GAAP EPS $1.67 (-5% YoY); adj. EPS $2.39 (+21% YoY).
Completed Solventum spin on Apr 1; retains 19.9% of SOLV shares to monetize within 5 years.
Legal settlements: PWS up to $10.3B pre-tax PV; Combat Arms up to $6.0B (PV $5.3B), both reserved.
FY2024 guidance (continuing ops): adj. EPS $6.80-$7.30; adj. organic sales growth flat to +2%.
William 'Bill' Brown becomes CEO effective May 1; Mike Roman becomes Executive Chairman.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

3M CO updated its first-quarter guidance (reaffirmed).

Period: first-quarter
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On April 30, 2024, 3M Company issued a press release reporting first-quarter financial results and initiating its full-year 2024 guidance reflecting completion of Solventum spin (attached hereunder as Exhibit 99.1 and incorporated herein by reference).

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

3M CO filing history →

Source: SEC EDGAR

accession 0000066740-24-000051

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