CLAIM #42533 · 3M Company (MMM) · 2024Q4 earnings call · Jan 21, 2025 · due Dec 31, 2025
“No, it will be a net positive in this year. Yes.”
William Brown · CEO
In context
“'s great. Thank you. Operator: Our next question will come from the line of Steve Tusa with JPMorgan. Please proceed with your question. Steve Tusa: Hi, good morning. Bill Brown: Hi, good morning, Steve. Steve Tusa: Can you just talk a little bit about -- I'm not sure you mentioned it before, but the price assumption for this year? Bill Brown: No, we've not talked about that. I don't think we're going to disaggregate organic growth. It's embedded in the 2% to 3%. I think as we said before in the past, we do get price increases. The price increases cover material cost inflation and I expect it to be in a similar magnitude in '25. But we're not going to sort of give that specific number here today. Steve Tusa: And is that a net positive or you're just -- you're just covering it? Bill Brown: No, it will be a net positive in this year. Yes. Steve Tusa: Okay. And then just to -- one follow-up on the T&E segment in the fourth quarter. Margin was a little bit weaker than we were expecting. Anything in particular going on there in the fourth? Anurag Maheshwari: No, in fact, as I mentioned earlier, Steve, it's probably a little bit better than expected, nothing unusual. This is -- it's a combination of seasonality as you bring inventory down, some growth investments we made. But as you move into '25, you should see margin expansion again in TEBG. TEBG was actually our highest-margin expansion segment in '24 by growing over 220 basis points. So I would say nothing unusual in the fourth quarter, just timing of different things. Steve Tusa: And then sorry, one more. Just on the corporate side, a little bit lower in expense this year”
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SEC filings for MMM ↗ · Claim quote is verbatim from the 2024Q4 earnings call.