7/26/2022, 12:37 PM (Source: TeleTrader)
more TeleTrader news

3M to spin off healthcare business as revenue stalls

3M Co.'s adjusted earnings per share slightly declined in the second quarter of 2022 compared to the same trimester a year ago to land at $2.48, the company revealed on Tuesday, reporting its sales remained mostly unchanged (-3%) at $8.7 billion.

Citing the strong American dollar and uncertain macroeconomic environment, 3M revised its full-year outlook down for both its annual revenue and earnings per share.

"We remain focused on innovating for customers, driving operational improvements and advancing our environmental stewardship - while positioning 3M for the future through our plan to spin-off our Health Care business and resolve Combat Arms litigation in a manner that is efficient and equitable," the report added.

Baha Breaking News (BBN) / ND