Summary by Moomoo AI
On January 23, 2024, 3M Company reported its financial results for the fourth quarter and full year of 2023, and provided its financial outlook for 2024. The company announced GAAP earnings per share of $1.70 for Q4 and an adjusted EPS of $2.42, reflecting an 11 percent increase year-on-year. The adjusted operating income margin expanded by 1.8 percentage points to 20.9%. For the full year, 3M reported a GAAP loss per share of $12.63, primarily due to significant litigation charges related to Combat Arms Earplugs and PFAS settlements. However, the adjusted EPS for the year stood at $9.24. The company's total sales for Q4 were $8.0 billion, a 0.8 percent decrease from the previous year, with an organic sales decline of 1.9 percent. Adjusted sales for the full year were $31.4 billion, down 4.5 percent year-on...Show More