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CLAIM #42370 · 3M Company (MMM) · 2023Q4 earnings call · Jan 23, 2024 · due Dec 31, 2024

Health Care's organic sales growth is anticipated to be flat to up low-single-digits year-on-year.

Monish Patolawala · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

automotive and electronics end markets, which I will cover next with my comments on transportation and electronics. Adjusted organic sales growth for Transportation and Electronics is forecasted to be flat to up low-single-digits organically. This range excludes the impact of the exit of PFAS manufacturing. Consumer electronics end markets are expected to be up slightly year-on-year as the market works to turn the corner. The semiconductor market is forecasted to start the year soft, however, improve as we progress through the year. Automotive unit volume production is forecast to be down slightly year-on-year. Despite this forecast, we continue to see significant opportunities in the automotive sector through our offerings in both electric vehicle and internal combustion engine vehicles. Health Care's organic sales growth is anticipated to be flat to up low-single-digits year-on-year. Bryan and his team are excited to lead this great business and we'll be providing more details on 2024 and beyond, as we progress towards the spin. Turning to Consumer. Organic sales are expected to be down low-single-digits as discretionary spending is expected to remain muted, especially in the U.S., along with our ongoing portfolio optimization initiatives. As Mike mentioned, these actions are estimated to create a year-on-year organic growth headwind of approximately $100 million or 2 percentage points. As you create your models for 2024, I want to highlight some important items. We anticipate pre-tax restructuring charges in the range of $250 million to $350 million and incremental savings in the range of $150 million to $250 million. As I've previously mentioned, our savings are net

Verify independently

SEC filings for MMM · Claim quote is verbatim from the 2023Q4 earnings call.