On a conference call with analysts and investors, 3M (NYSE: MMM) today
will affirm its 2012 earnings-per-share target of $6.27 to $6.35 and
provide a roadmap for the company’s 2013 performance expectations.
3M anticipates 2013 earnings to be in the range of $6.70 to $6.95 per
share with organic local-currency sales growth of 2 to 5 percent for the
year. The company expects that free cash flow conversion will be in the
range of 90 to 100 percent.
"I look forward to another strong year for 3M,” said Inge G. Thulin, 3M
chairman, president and chief executive officer. "Our unique combination
of technology, manufacturing prowess and global capability – along with
inherent operational excellence – will enable us to once again grow
sales and profits."
Today’s conference call will begin at 9:30 a.m. ET (8:30 a.m. CT).
Investors can access the conference via the following:
Live webcast at
Live telephone:Call 800-762-2596 within the U.S. or +1
212-231-2916 outside the U.S.
Webcast replay:Go to 3M’s Investor Relations website at
and click on “2013 Outlook Conference Call.”
Telephone replay:Call 800-633-8284 (for both U.S. and outside
the U.S.; access code is 21538829).The telephone replay will be
available until 10:00 a.m. CT on December 15, 2012.
This news release contains
forward-looking information about 3M's financial results and estimates
and business prospects that involve substantial risks and uncertainties.
You can identify these statements by the use of words such as
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," "will," "target," "forecast" and other words and terms of
similar meaning in connection with any discussion of future operating or
financial performance or business plans or prospects. Among the factors
that could cause actual results to differ materially are the following:
(1) worldwide economic and capital markets conditions and other factors
beyond the Company's control, including natural and other disasters
affecting the operations of the Company or its customers and suppliers;
(2) the Company's credit ratings and its cost of capital;
(3) competitive conditions and customer preferences; (4) foreign
currency exchange rates and fluctuations in those rates; (5) the timing
and market acceptance of new product offerings; (6) the availability and
cost of purchased components, compounds, raw materials and energy
(including oil and natural gas and their derivatives) due to shortages,
increased demand or supply interruptions (including those caused by
natural and other disasters and other events); (7) the impact of
acquisitions, strategic alliances, divestitures, and other unusual
events resulting from portfolio management actions and other evolving
business strategies, and possible organizational restructuring;
(8) generating fewer productivity improvements than estimated;
(9) security breaches and other disruptions to the Company's information
technology infrastructure; and (10) legal proceedings, including
significant developments that could occur in the legal and regulatory
proceedings described in the Company's Annual Report on Form 10-K for
the year ended December 31, 2011 and its subsequent quarterly reports on
Form 10-Q (the "Reports"). Changes in such assumptions or factors could
produce significantly different results. A further description of these
factors is located in the Reports under "Cautionary Note Concerning
Factors That May Affect Future Results" and "Risk Factors" in Part I,
Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part II, Item
1A (Quarterly Report). The information contained in this news release is
as of the date indicated. The Company assumes no obligation to update
any forward-looking statements contained in this news release as a
result of new information or future events or developments.
3M captures the spark of new ideas and transforms
them into thousands of ingenious products. Our culture of creative
collaboration inspires a never-ending stream of powerful technologies
that make life better. 3M is the innovation company that never stops
inventing. With $30 billion in sales, 3M employs 84,000 people worldwide
and has operations in more than 65 countries. For more information,
or follow @3MNews on Twitter.