3M shares fell more than 2% in morning trading.
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.
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