CLAIM #42446 · 3M Company (MMM) · 2024Q2 earnings call · Jul 26, 2024 · due Dec 31, 2024
“Full year adjusted organic growth remains unchanged at flat to up 2% with expectations for second half organic growth in line with first half performance at the midpoint.”
William Brown · CEO
In context
“al matters. I am confident that under Bill's leadership, the team will continue to build on this momentum to create consistent value for our people, our customers and our shareholders in the years to come. I would also like to thank all the analysts and investors for our rich discussions and engagements over the last four years. With that, please turn to Slide 10 and I will turn it back over to bill for an update on our guidance. Bill? William Brown: Thanks Monish. Given the strong operational execution in the first half of the year, we're raising the bottom end of our full year adjusted earnings guidance by $20 to a range of $7 to $7.30 versus $6.80 to $7.30 previously, now up 16% to 21% year-on-year. Full year adjusted operating margins are now expected to be up 225 to 275 basis points. Full year adjusted organic growth remains unchanged at flat to up 2% with expectations for second half organic growth in line with first half performance at the midpoint. While significant macro uncertainty remains, our business segment and market trends are largely playing out as expected. Year-to-date Safety and Industrial organic growth is approximately flat versus a full year expectation of flat to up low single digits. We expect that industrial end markets will remain mixed as channel partners and end customers continue to remain cautious on overall demand trends. On an adjusted basis, transportation and electronics is up nearly 5% organically in the first half versus a full year expectation of up low single digits. Strength in the first half was due in large part to consumer electronics along with automotive. We continue to monitor auto build rates along with consumer electronics demand trends for the back-to-school and holiday season. And finally co”
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SEC filings for MMM ↗ · Claim quote is verbatim from the 2024Q2 earnings call.