3M NYSE: MMM producent ponad 55000 produktów w wielu branżach

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(Reuters) -California's attorney general on Thursday sued 3M Co, DuPont de Nemours (NYSE:DD) Inc and several other companies to recoup the "staggering" clean-up costs from toxic pollutants known as "forever chemicals."

Attorney General Rob Bonta said the lawsuit followed a multiyear probe that found the companies marketed products containing polyfluoroalkyl and perfluoroalkyl substances (PFAS) for decades despite knowing they cause cancer, developmental defects and other health problems. Bonta said the lawsuit could ultimately seek hundreds of millions of dollars in penalties and costs.

DuPont has never manufactured PFOA, PFOS or firefighting foam, said spokesperson Daniel Turner, referring to two PFAS substances. He added the company believes the complaint incorrectly names it as a defendant. “We believe these complaints are without merit ... We look forward to vigorously defending our record of safety, health and environmental stewardship.”

3M spokesperson Carolyn LaViolette said in a statement the company "acted responsibly in connection with products containing PFAS and will defend its record of environmental stewardship."

The substances are known as forever chemicals because of how long they stay in the human body and environment.

They have been mass produced since the 1950s, and used in products such as firefighting foams, nonstick pans and personal care items.

Bonta said the defendants created a public nuisance and demanded they pay to clean up PFAS, which he said has been found in drinking water, rivers, lakes, wildlife and the bloodstreams of about 98% of California's approximately 39 million people.

"The damage caused by 3M, DuPont, and other manufacturers of PFAS is nothing short of staggering, and without drastic action, California will be dealing with the harms of these toxic chemicals for generations," Bonta said.

Thousands of lawsuits have been filed against chemical companies in the last two decades for health and environmental damage from PFAS, potentially leading to billions of dollars in liabilities.

Thursday's lawsuit was filed in Alameda County, which includes Oakland, and is the first statewide legal action over PFAS contamination.

It alleges violations of state consumer protection and environmental law violations and invokes the federal Superfund law, which establishes a path to recoup the costs of cleaning up hazardous substances.

In June, the U.S. Environmental Protection Agency warned that forever chemicals could be dangerous even at undetectable levels.

The Biden administration is expected to issue the first enforceable drinking water regulations for PFAS in public water systems this year.

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Latest Release
Jan 24, 2023

EPS / Forecast
2.28 / 2.37

Revenue / Forecast
8.1B / 8.06B

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3M Company (NYSE:MMM), a major Dow component, gained more than 2% as data from the Department of Defense records showed the vast majority of claimants in Combat Arms earplug litigation had “normal hearing.”

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Latest Release
Apr 25, 2023

EPS / Forecast
1.97! / 1.58

Revenue / Forecast
8.03B / 7.48B

3M Co. (NYSE:MMM) reported its financial results for Q1 2023 today, as well as announced several major operational updates.

For Q1, the company posted EPS of $1.97, $0.39 ahead of the analyst estimate of $1.58, with revenue also topping expectations at $8B vs estimate of $7.48B.

MMM provided FY 2023 guidance with EPS of $8.50-$9.00, versus the consensus of $8.60, and adjusted total sales growth of -6% to -2%, translating into adjusted organic sales growth of -3 percent to flat.

More notably, the company announced additional restructuring efforts: in a move "intended to make 3M stronger, leaner and more focused," MMM plans to cut 6,000 jobs across "all functions, businesses, and geographies," achieving anticipated annual pre-tax savings of $700M-$900M. The new round of layoffs follows a 2,500 manufacturing staff reduction enacted back in January 2023.

MMM sees total pre-tax charges of $700M-$900M from both current and January cuts and expects to incur approximately half of those in 2023 and $175M-$250M in Q2.

The company's CEO and Chairman Mike Roman commented: "To strengthen 3M for the future, today we announced actions that will reduce costs at the corporate center, further simplify and strengthen our supply chain structure, and streamline our go-to-market business models, which will improve margins and cash flow... We will continue to prioritize investments in high-growth end markets where 3M science gives us a clear competitive advantage."

Shares of MMM are gaining slightly following the report, currently up over 1.2% in pre-market trading on Tuesday.

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3M reaches tentative $10 billion pollution settlement with US cities - Bloomberg News

(Reuters) - 3M Co has struck a tentative settlement of at least $10 billion with a host of U.S. cities and towns to resolve water pollution claims tied to "forever chemicals," Bloomberg News reported on Friday, citing people familiar with the matter.

Shares of 3M were up 8.4% at $102.16 on Friday afternoon.

Reuters could not immediately confirm the report. A 3M spokesperson said the company "does not comment on rumors or speculation."

Hours earlier, chemical companies including Chemours Co, DuPont de Nemours (NYSE:DD) Inc and Corteva (NYSE:CTVA) Inc reached an agreement in principle for $1.19 billion to settle claims that they contaminated U.S. public water systems with the potentially harmful chemicals.

3M was scheduled to face trial on Monday against the City of Stuart, Florida. It was not immediately clear whether the trial will proceed.

Stuart claims that company made or sold firefighting foams containing per- and polyfluoroalkyl substances, or PFAS, despite knowing for decades that the chemicals can cause cancer and other ailments. The city has said it is seeking more than $100 million from 3M to pay for water filtration and soil remediation.

3M has said in court documents that PFAS have not been linked with health problems at the levels being discovered in drinking water.

Stuart's lawsuit is one of more than 4,000 filed against 3M and other chemical companies by local municipalities, state governments and individuals from across the U.S. that have been consolidated in federal court in South Carolina. The Stuart case was selected as the first "bellwether" or test case in that litigation.

3M in December set a 2025 deadline to stop producing PFAS - used in everything from cell phones to semiconductors - amid increasing legal scrutiny on the substances that are commonly called “forever chemicals” because they do not easily break down in the human body or environment.

Litigation over them threatens companies like 3M, DuPont and others with billions of dollars in liabilities.

Stuart, a coastal city of about 20,000 people roughly 40 miles (64 km) north of West Palm Beach, Florida, sued 3M and others in 2018. The city claims firefighting foams containing PFAS were regularly sprayed at a local fire station, leading the chemicals to seep into the groundwater.

https://www.investing.com/news/stock-ma ... ws-3097393

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This “Safety Stock” Yields 6% and Could Easily Go Up 25%-50% in a Couple Years

https://dailytradealert.com/2023/06/30/ ... ple-years/

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Where I reinvested some of my 3M shares (Nationale Nederlanden)

https://www.europeandgi.com/recent-purc ... 3m-shares/

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3M Company (NYSE:MMM) jumped nearly 5% after Bank of America upgraded the industrial and consumer products maker to Neutral from Underperform on expectations that receding legal troubles would help boost performance.

Last month, 3M settled reached an agreement to settle allegations that it contaminated public water systems with toxic perfluoroalkyl and polyfluoroalkyl, substances (PFAS), or so-called forever chemicals.

TAG bacs bofaa bofas

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3M (NYSE:MMM) stock rose pre 2.1% after the industrial conglomerate lifted its full-year EPS guidance even after reporting a quarterly loss as it took a hit from a $10.3 billion settlement related to water pollution claims.

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Latest Release
Jul 25, 2023

EPS / Forecast
2.17 / 1.73

Revenue / Forecast
7.99B / 7.9B

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3M Company (NYSE:MMM) stock rose 6.1%, following media reports that the industrial conglomerate has tentatively agreed to pay over $5.5 billion to resolve hundreds of thousands of lawsuits alleging that its earplugs sold to the U.S. military were defective.

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3M zyskuje na awansie po raportach ugodowych o wartości 5,5 miliarda dolarów
Wolfe Research zmienił rating 3M (NYSE:MMM) do Peerperform z Underperform, zgodnie z raportowaniem w czasie rzeczywistym na InvestingPro.

Akcje wzrosły wczoraj o ponad 5% po doniesieniach medialnych, że konglomerat przemysłowy zgodził się zapłacić ponad 5,5 miliarda dolarów, aby rozwiązać setki tysięcy pozwów, twierdząc, że jego zatyczki do uszu sprzedawane amerykańskiemu wojsku były wadliwe.

Według doniesień, źródła zbliżone do sprawy mówią, że negocjacje trwają, a ostateczna kwota nie została jeszcze ustalona. O potencjalnej ugodzie jako pierwszy poinformował Bloomberg News.

Wolfe uważa, że kwota ugody jest "tak dobra, jak można było się spodziewać".

Pozostałe wyzwania polegają na tym, że ścieżka wydarzeń jest nadal bardzo niepewna, a nadchodzący spin w sektorze opieki zdrowotnej postrzegamy jako katalizator cięcia dywidendy. Niemniej jednak akcje ostatecznie wyświetlają się jako mniej więcej wartość godziwa w porównaniu z naszym skorygowanym spreadem niedźwiedzia / byka 76-140 USD.

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(Reuters) -U.S. industrial conglomerate 3M Co on Wednesday warned of "a slow growth environment" in 2024 and forecast weakness in its electronics and consumer segments for the current and following quarter.

Shares of the diversified manufacturer fell 5.7% in afternoon trade after the company also said current-quarter sales are expected to come in between $7 billion and $8 billion, compared with its previous guidance of $8 billion, due to a slow recovery in China.

"The consumer has shifted spending from discretionary to staples and other experimental activities," 3M CFO Monish Patolawala said. "Based on China and FX, we are a little down from where we said."

3M raised its full-year profit forecast in July and exceeded second-quarter earnings estimates by offsetting high raw material and labor costs by hiking prices.

The company has also said it is seeing a significant drop in U.S. retailer inventories as spending on consumer electronics has dropped off due to inflation and higher borrowing rates.

The dour outlook comes as the company grapples with the fallout from lawsuits related to its Combat Arms earplugs and water pollution claims tied to "forever chemicals".

The St. Paul, Minnesota-based company in June reached a $10.3 billion settlement related to the water pollution claims.

3M last month also agreed to pay $6 billion to settle lawsuits by U.S. military veterans and service members who said they suffered hearing loss from using the company's earplugs. The firm was expected to take a charge of $4.2 billion in the current quarter related to the settlement.

https://www.investing.com/news/stock-ma ... 24-3173752