At a meeting with institutional investors and analysts today, 3M will provide an update to its five-year plan and introduce its 2014 outlook. 3M Chairman, President and CEO Inge G. Thulin will discuss the strength of 3M’s business model, driven by three key strategic levers: active portfolio management, investing in innovation, and business transformation. These levers, combined with more aggressive capital deployment, will drive enhanced value creation. Thulin will outline 3M’s 2013-17 financial objectives:
- 9 to 11 percent growth in earnings per share
- 4 to 6 percent organic revenue growth
- Approximately 20 percent return on invested capital
- Approximately 100 percent free cash flow conversion
For 2014, 3M anticipates earnings to be in the range of $7.30 to $7.55 per share with organic local currency sales growth of 3 to 6 percent. The company expects that free cash flow conversion will be in the range of 90 to 100 percent.As previously announced on December 11, 2013, today’s meeting will be webcast live beginning at 1 p.m. EST and is scheduled to adjourn at 5 p.m. EST. Investors can access this meeting via the following:
- Live webcast at http://investor.3M.com.
- Webcast replay: Go to 3M’s Investor Relations website at http://investor.3M.com and click on “3M 2014 Outlook Meeting.”