3M to spin off healthcare business as revenue stalls - Breaking The News

3M to spin off healthcare business as revenue stalls

26 July

1 min read

EPA/KOEN VAN WEEL

3M Co.'s adjusted earnings per share slightly declined in the second quarter of 2022 compared to the same trimester a year ago to land at $2.48, the company revealed on Tuesday, reporting its sales remained mostly unchanged (-3%) at $8.7 billion.

Citing the strong American dollar and uncertain macroeconomic environment, 3M revised its full-year outlook down for both its annual revenue and earnings per share.

"We remain focused on innovating for customers, driving operational improvements and advancing our environmental stewardship - while positioning 3M for the future through our plan to spin-off our Health Care business and resolve Combat Arms litigation in a manner that is efficient and equitable," the report added.

earnings 3m

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