Exhibit 99.1

 

For Immediate Release

 

3M Reports Fourth-Quarter 2018 Results

 

Fourth-Quarter Highlights:

·                 Sales of $7.9 billion, down 0.6 percent year-on-year

·                 Organic local-currency sales growth of 3.0 percent; growth across all business groups and all geographic areas

·                 GAAP EPS of $2.27 vs. $0.85 last year, up 167 percent year-on-year

·                  Q4 2018 earnings included a net charge of $0.04 per share for tax adjustments related to both the Tax Cuts and Jobs Act (TCJA) and the Q1 2018 legal settlement; and a $0.02 per share net benefit from a divestiture gain, net of actions

·                  Q4 2017 earnings included tax expense of $1.25 per share related to TCJA

·                 Adjusted EPS of $2.31 vs. $2.10 last year, up 10.0 percent year-on-year, excluding the above tax-related items in both years

·                 Returned $2.1 billion to shareholders via dividends and gross share repurchases

 

Full-Year Highlights:

·                 Sales of $32.8 billion, up 3.5 percent year-on-year

·                 Organic local-currency sales growth of 3.2 percent; growth across all business groups and all geographic areas

·                 GAAP EPS of $8.89 vs. $7.93 last year, up 12.1 percent year-on-year

·                  Full-year 2018 earnings included a net charge of $1.57 per share related to TCJA and the Q1 2018 legal settlement; and a $0.50 per share net benefit from divestiture gain, net of actions

·                  Full-year 2017 earnings included tax expense of $1.24 per share related to TCJA

·                 Adjusted EPS of $10.46 vs. $9.17 last year, up 14.1 percent year-on-year, excluding the impact of TCJA and the Q1 2018 legal settlement

·                 Returned $8.1 billion to shareholders via dividends and gross share repurchases

 

ST. PAUL, Minn. — Jan. 29, 2019 - 3M (NYSE: MMM) today reported fourth-quarter and full-year 2018 results.

 

“3M executed well in the fourth quarter, with results that were in line with our expectations,” said Mike Roman, 3M chief executive officer. “We delivered organic growth of 3 percent — which included growth across all business groups and geographic areas — along with strong cash flow and earnings. The fourth quarter capped an important year for 3M, as we posted good results and continued to take actions to strengthen our company for the future.

 

“Going forward, our team remains focused on executing our four priorities — Portfolio, Transformation, Innovation, and People & Culture — which are keys to growth and value creation,” Roman continued. “We are positioned for a successful 2019, and are focused on delivering for our customers and shareholders.”

 


The following information was filed by 3M Co (MMM) on Tuesday, January 29, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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