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3M (NYSE:MMM) just reminded investors why it's a name to watch. The industrial giant smashed Wall Street's expectations for Q4, posting $1.68 earnings per share on $6 billion in salesbeating forecasts of $1.66 on $5.8 billion. What's even more impressive? Comparable sales grew 2.1%, marking the fastest growth in years. Under CEO William Brown's leadership, the company is turning a corner with a sharp focus on research, innovation, and streamlined operations. Investors didn't miss the memoshares jumped 4.5% to over $147.4, hitting levels not seen in three years.
Driving the growth were standout performances in its Transportation & Electronics and Safety & Industrial segments. Transportation & Electronics surged 3.4%, powered by new product launches, while Safety & Industrial climbed 0.7% on stronger demand for adhesives and roofing products. Sure, the Consumer division slipped 1.2%, but the big picture is clear: 3M's strategy is paying off. Add in a nearly complete restructuring program that's already improving margins, and you've got a business firing on more cylinders than it has in years.
Looking ahead, the company expects 2025 earnings between $7.60 and $7.90 per share, right in line with analysts' targets. And with shares up 63.5% over the past 12 months, the momentum is real. Analysts are now laser-focused on 3M's upcoming February event, where Brown will reveal updated growth plans. For now, the verdict is in: 3M isn't just bouncing backit's setting the stage for a bigger, bolder future.
This article first appeared on GuruFocus.