3M Company

MMM
Sector

Industrials

Industry

Conglomerates

Market Cap

$68.36B

Employees

85K

Company Overview

3M is a diversified technology company with a global presence, operating in four segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The company is among the leading manufacturers of products for many of the markets it serves, leveraging its expertise in product development, manufacturing, and marketing. 3M's products are subject to competition from other technologically oriented companies.

Filing Highlights

Key insights and themes extracted from this filing

10 Themes

Financial Performance

3 Insights

Net sales decreased slightly to $6.255 billion in Q2 2024 from $6.283 billion in Q2 2023, indicating minimal top-line growth. This is further evidenced by a decrease in net sales for the first six months of 2024 ($12.271 billion) compared to the first six months of 2023 ($12.338 billion).

Operating income improved significantly to $1.272 billion in Q2 2024 from an operating loss of $9.358 billion in Q2 2023. This is primarily due to a decrease in total operating expenses from $15.641 billion to $4.983 billion year-over-year.

Net income attributable to 3M rebounded to $1.145 billion in Q2 2024, compared to a net loss of $6.841 billion in Q2 2023. This recovery is also reflected in the first six months of 2024, with net income at $2.073 billion, compared to a net loss of $5.865 billion in the first six months of 2023.

Growth & Strategy

3 Insights

Management Execution

3 Insights

Risk Factors

3 Insights

Competitive Position

3 Insights

Operational Efficiency

3 Insights

Innovation & Technology

3 Insights

Capital Allocation

3 Insights

ESG initiatives

3 Insights

Market Environment

3 Insights