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China drives 3M’s Q3 sales to $6.5B
Yahoo Finance· 2025-10-22 12:39
Group 1 - 3M's business in China is showing resilience as the company revamps its organizational model in both China and India, with exports from China increasing by approximately 8% in September [3][4] - Approximately 56% of 3M's Q3 revenue came from outside the U.S., making its global operations vulnerable amid ongoing U.S.-China tensions [4] - The company is targeting original equipment manufacturers (OEMs) in China, which is driving growth in its transportation and electronics sectors [5] Group 2 - 3M's new strategy, "3M Excellence," focuses on accelerating growth through innovation, commercial efforts, and operations, with a planned investment of $3.5 billion in research and development [6][7] - The company aims to launch 1,000 new products over the next three years, having already launched 70 products in Q3 and a total of 196 in 2025, marking a 70% increase compared to the previous year [7][8] - 3M has raised its earnings per share guidance from a range of $7.75 to $8 to between $7.95 and $8.05 following its Q3 results, with net sales increasing approximately 3.5% year over year to $6.5 billion [9]