3m to Return $10 Billion to Shareholders, Reiterates Sales Forecast
3M Co is set to return at least $10 billion in cash to shareholders and target an operating margin of about 25% by 2027 as the diversified manufacturer benefits from a restructuring under its new CEO. Bill Brown has focused on developing new products, redirecting spending from legal liabilities and supply-chain costs, while reining in costs and exiting less-profitable consumer product lines. The company also reaffirmed its annual forecast of organic sales growth in the range of 2% to 3%.
- This strategic shift may signal a broader trend in the industrial sector towards innovation-driven growth and cost optimization.
- How will increased share buybacks impact 3M's market value and influence investor sentiment on the stock in the coming quarters?