3M sees earnings hit from waning mask demand

Reuters2022-02-14

Feb 14 (Reuters) - Industrial giant 3M Co on Monday forecast a slower pace of sales growth in 2022 and a 45 cent hit to its per-share earnings, as demand for its masks wanes due to the global vaccination drive against COVID-19.

The company is expecting total sales growth in the range of 1% to 4% for 2022, slower than a near 10% growth recorded a year earlier.

Full-year earnings are expected to be in the range of $10.15 to $10.65 per share, the mid-point of which was slightly above the estimates of $10.36 per share, according to Refinitiv IBES.

The company also forecast full-year operating cash flow of $7.3 billion to $7.9 billion.

In January, the company reported a 4.7% fall in its fourth-quarter profit after labor shortages and supply chain bottlenecks hit operations.

3M also plans to invest about $4 billion in 2022 toward research and development and capital expenditures.

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Comments

  • Lion91
    2022-02-15
    Lion91
    Like for like
  • dzgunners95
    2022-02-14
    dzgunners95
    Nice
  • hotwheels
    2022-02-14
    hotwheels
    more R nD will benefit the company! 
  • HYTHYT
    2022-02-14
    HYTHYT
    nice 
  • DZL
    2022-02-14
    DZL
    3M, more than just mask making for the long term?
  • JLCH
    2022-02-14
    JLCH
    yo
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