Reportedly, 3M (
MMM) announced spinning off its health-care business into a separate publicly traded company, focussing on wound and oral care, health-care IT and biopharma filtration, and material science company, which includes products like bandages, skin adhesives, oral aligners, air purifiers, and optical lenses. 3M health-care products recorded more than $8 billion in sales in 2021. The deal is expected to be completed by the end of next year, and 3M will maintain a 19.9% stake in the new company.
3M also released its quarterly earnings, reporting a drop in net income to $78 million from $1.5 billion a year earlier, including a $1.2 billion pretax charge tied to resolving litigation related to Combat Arms Earplugs. Revenue dropped nearly 3% to $8.7 billion. 3M earned $2.48 per share, exceeding expectations of $2.42 per share on revenue of $8.58 billion.
3M (
MMM) is a global science company that seems to never stop inventing. Using 46 technology platforms, their integrated team of scientists and researchers works with customers to create breakthroughs. Their inventions have improved daily life for hundreds of millions of people all over the world. With $30 billion in sales, 90,000 employees connect with customers all around the world. Scientists, researchers, and marketers work across countries and across subjects to solve challenges big and small. To learn more about 3M (
MMM) and to track its ongoing progress please visit the
Vista Partners 3M (MMM), Coverage Page.
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