3M Reports Fourth-Quarter and Full-Year 2021 Results – MMM Stock update

ST. PAUL, Minn., Jan. 25, 2022 /PRNewswire/ — 3M (NYSE: MMM) today reported fourth-quarter and full-year 2021 results.

Fourth-Quarter Highlights:
– Sales of $8.6 billion, up 0.3 percent year-on-year; organic local-currency sales increased 1.3 percent year-on-year
– Earnings per share of $2.31
– Operating cash flow of $2.0 billion; adjusted free cash flow of $1.5 billion, down 30 percent year-on-year
– Returned $1.8 billion to shareholders via dividends and gross share repurchases
– Announced Food Safety business divestiture involving a Reverse Morris Trust transaction with NEOGEN Corporation
Full Year Highlights:
– Sales of $35.4 billion, up 9.9 percent year-on-year; organic local-currency sales increased 8.8 percent year-on-year
– Earnings per share of $10.12 vs. $9.36 in 2020, up 8 percent year-on-year
– Adjusted earnings per share of $10.12 vs. $8.85 in 2020, up 14 percent year-on-year
– Operating cash flow of $7.5 billion; adjusted free cash flow of $6.0 billion, with adjusted free cash flow conversion of 101 percent
– Returned $5.6 billion to shareholders via dividends and gross share repurchases
– Company to host virtual Strategic Update and 2022 Outlook meeting on Feb. 14, 2022