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CLAIM #42504 · 3M Company (MMM) · 2024Q3 earnings call · Oct 22, 2024 · due Dec 31, 2025

No, Brett, it should be declined substantially going into next year. I mean we will lap the year, so there will be a little bit of drag on effect for things that happen in the course of ‘24. But we shouldn’t see significant headwind from portfolio or geographic prioritization going into next year.

William Brown · CEO

PENDING
graded after results covering Dec 31, 2025 are reported

In context

this, and this is a big focus of mine, a big focus of the team. So, more to come on that, but it’s certainly part of the lens and the calculus that we are looking at and where we are spending the – or investing our R&D dollars. Andy Kaplowitz: Thanks. Operator: We will go next now to Brett Linzey with Mizuho Securities. Brett Linzey: Hi. Good morning all and welcome to Anurag. Just wanted to come back to the rationalization efforts, so I think it was a point of drag in the quarter, a point for the year, perhaps just isolating rationalization and leaving out some of the new product launches and other growth, should we be thinking about another point of headwind next year as you continue the simplification efforts, or is it something less as we proceed and advance forward here? Bill Brown: No, Brett, it should be declined substantially going into next year. I mean we will lap the year, so there will be a little bit of drag on effect for things that happen in the course of ‘24. But we shouldn’t see significant headwind from portfolio or geographic prioritization going into next year. Our intention – Anurag haven’t talked about this, but our intention would likely be to not speak so much about that in our ‘25 results. It’s something that really people do companies do just at a normal practice as you continue to look at your portfolio. And you add something, you take some things out, you replace things. And I would expect that going into next year, to be less part of our conversation than this year. Brett Linzey: Alright. Makes sense. And then just a follow-up on NPA and the launching of the new products, 10% growth next year. Just wanted to better understand the associated costs and where those introductions are aimed at the segment level. Should we be thinking of a commensurate level of R&D step-up, or are you able to achieve this with repurposing the spending base? B

Verify independently

SEC filings for MMM · Claim quote is verbatim from the 2024Q3 earnings call.