3M Q4 Results: Company posts profit above estimates on strong demand
demand for industrial adhesives, tapes and electronics picked up, sending its shares more than 5% higher in premarket trade.
An uptick in demand for electronics used in vehicles and mobile phones boosted results during the holiday quarter, after months of a demand slowdown wrought by inflation-hit consumers postponing big-ticket purchases.
The Scotch Tape maker also forecast 2025 adjusted profit largely in line with Wall Street estimates, as it looks to benefit from a restructuring effort aimed at reining in costs and prioritizing higher-margin products.
Its total operating expenses fell by 44% in 2024 from a year earlier.
Since announcing the restructuring in 2023, 3M has cut more than 8,500 jobs, reduced office spaces by 12% and spun off its healthcare business into a listed company.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
Stock Markets Made Easy
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Renko Chart Patterns Made Easy
By — Kaushik Akiwatkar, Derivative Trader and Investor
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Markets
