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CAPITAL GOODS: 3M (MMM A3/BBB+/A-): 2Q24 Results

CAPITAL GOODS

Positive results, not expecting much spread impact.

  • Revenue beat by 7%.
  • ADj. EBIT margin better at 21.6%, 20.25% expected.
  • FCF broadly in line at $1.2bn.
  • Guidance upgraded with EBIT margin improvement going from 200-275 to 225-275bp.
  • Webcast 14.00 BST https://investors.3m.com/news-events/events-presentations

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