MAAT INDEX

CLAIM #42313 · 3M Company (MMM) · 2023Q2 earnings call · Jul 25, 2023 · due Dec 31, 2023

And then, on -- I would just say on another housekeeping item is other financial, when we came into the year, we had said it would be minus 10% to flat on a year-over-year basis. We are updating that to minus 5% to flat -- minus 5% to plus 5% which on the midpoint is 0.

Monish Patolawala · CFO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

sinflation which is lower inflation than last year. We are seeing the benefit in logistics. But however, some of our commodities still continue to be inflation. Inflationary and labor, frankly, is sticky from an inflation perspective in those commodities. But that also will play itself out as events play out through this year and into 2024 and beyond. And then we will continue to be focused on cost. Another item for us in the second quarter -- second half is as we are getting ready for the spin of Health Care, we'll be, of course, standing up the new management team. Mike already talked about that in his prepared remarks. There will be some cost incurred from a -- as these -- as we have management teams appointed that start getting ready to be -- have Health Care be a stand-alone company. And then, on -- I would just say on another housekeeping item is other financial, when we came into the year, we had said it would be minus 10% to flat on a year-over-year basis. We are updating that to minus 5% to flat -- minus 5% to plus 5% which on the midpoint is 0. First half, we got benefited by $0.11. Second half, it will be a negative $0.11 but that's on a year-over-year basis. So I gave you a lot Andy, just to make sure that you have enough information as you build your models out and you look at us in totality. Andrew Kaplowitz: No, that's very helpful, Monish. And then just for the next question, maybe just a little more color into industrial businesses within Safety and Industrial. I think you'd guided to down low single digits for the year and you continue to be down mid-single digit in Q2. I know last quarter, you described industrial markets as mixed, same description this quarter. But maybe you can characterize markets for us. Do you still see low single-digits decline for the year in industrial? Mike Roman: Yes Andy, the quarter down mid

Verify independently

SEC filings for MMM · Claim quote is verbatim from the 2023Q2 earnings call.