3M is doing badly in 2023

Earnings and FCF are strong because opex is down and efficiency is up.
We're investing less in capex, so FCF > net income!
Our demise is accelerating.

I was at 3M from 2001 to 2008 when this demise began, but it's sad to see management run the business so poorly.

Image

2. $Verizon(VZ)$

Consumer ads is impressive but SG&A costs were up 11.7% and debt went up in the quarter.

Conference call this morning but seems like a mixed bag.

Image

3. $Spotify Technology S.A.(SPOT)$

I don't think SPOT's video products get enough attention.

They're like a back door to becoming a YouTube competitor.

4. $Walt Disney(DIS)$ & $Netflix(NFLX)$

I have to wonder if this is bullish for Disney’s streaming subs too. They’ve been correlated recently.

Netflix NFLX Q4:

- Largest Q4 Net Additions ever

- Beat revenue and earnings guidance

- Repurchased $2.5B worth of stock

"We expect healthy double digit revenue growth for the full year 2024"

Image

https://twitter.com/TravisHoium/status/1749796537553555528

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Comments

Meroy
01-25
Meroy
😢 Stay strong, 3M! 🌟💪
dropppie
01-25
dropppie
Oh no, that's unfortunate! 😢📉
KSR
01-25
KSR
👍
Tom Chow
01-24
Tom Chow
good

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They’ve been correlated recently.</strong></p><p>Netflix NFLX Q4:</p><p>- Largest Q4 Net Additions ever</p><p>- Beat revenue and earnings guidance</p><p>- Repurchased $2.5B worth of stock</p><p>\"We expect healthy double digit revenue growth for the full year 2024\"</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/aafe1912412a02602d07ae53b15e30e1\" tg-width=\"585\" tg-height=\"449\"><span>Image</span></p><p></p><p>https://twitter.com/TravisHoium/status/1749796537553555528</p></body></html>","htmlText":"<html><head></head><body><p>1. <a data-mention-id=\"MMM\" class=\"teditor-mention\" data-mention-name=\"3M\" href=\"https://ttm.financial/S/MMM\">$3M(MMM)$</a> </p><ul><li><p><strong>Earnings and FCF are strong because opex is down and efficiency is up.</strong></p></li><li><p><strong>We're investing less in capex, so FCF &gt; net income!</strong></p></li><li><p><strong>Our demise is accelerating.</strong></p></li></ul><p>I was at 3M from 2001 to 2008 when this demise began, but it's sad to see management run the business so poorly.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/6fc69b369c372b4829101981e393bf22\" tg-width=\"680\" tg-height=\"360\"><span>Image</span></p><p>2. <a data-mention-id=\"VZ\" class=\"teditor-mention\" data-mention-name=\"Verizon\" href=\"https://ttm.financial/S/VZ\">$Verizon(VZ)$</a> </p><p>Consumer ads is impressive but SG&amp;A costs were up 11.7% and debt went up in the quarter. </p><p>Conference call this morning but seems like a mixed bag.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/453a3195f1aae091068b0aee312f2c60\" tg-width=\"679\" tg-height=\"347\"><span>Image</span></p><p>3. <a data-mention-id=\"SPOT\" class=\"teditor-mention\" data-mention-name=\"Spotify Technology S.A.\" href=\"https://ttm.financial/S/SPOT\">$Spotify Technology S.A.(SPOT)$</a> </p><p>I don't think SPOT's video products get enough attention.</p><p>They're like a back door to becoming a YouTube competitor.</p><p>4. <a data-mention-id=\"DIS\" class=\"teditor-mention\" data-mention-name=\"Walt Disney\" href=\"https://ttm.financial/S/DIS\">$Walt Disney(DIS)$</a> &amp;  <a data-mention-id=\"NFLX\" class=\"teditor-mention\" data-mention-name=\"Netflix\" href=\"https://ttm.financial/S/NFLX\">$Netflix(NFLX)$</a> </p><p><strong>I have to wonder if this is bullish for Disney’s streaming subs too. They’ve been correlated recently.</strong></p><p>Netflix NFLX Q4:</p><p>- Largest Q4 Net Additions ever</p><p>- Beat revenue and earnings guidance</p><p>- Repurchased $2.5B worth of stock</p><p>\"We expect healthy double digit revenue growth for the full year 2024\"</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/aafe1912412a02602d07ae53b15e30e1\" tg-width=\"585\" tg-height=\"449\"><span>Image</span></p><p></p><p>https://twitter.com/TravisHoium/status/1749796537553555528</p></body></html>","text":"1. $3M(MMM)$ Earnings and FCF are strong because opex is down and efficiency is up. We're investing less in capex, so FCF > net income! Our demise is accelerating. I was at 3M from 2001 to 2008 when this demise began, but it's sad to see management run the business so poorly. Image 2. $Verizon(VZ)$ Consumer ads is impressive but SG&A costs were up 11.7% and debt went up in the quarter. Conference call this morning but seems like a mixed bag. Image 3. $Spotify Technology S.A.(SPOT)$ I don't think SPOT's video products get enough attention. They're like a back door to becoming a YouTube competitor. 4. $Walt Disney(DIS)$ & $Netflix(NFLX)$ I have to wonder if this is bullish for Disney’s streaming subs too. They’ve been correlated recently. 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