Will 3M's Turnaround Plans Work?
Diversified industrial giant 3M (NYSE: MMM) delivered one of the season's most exciting earnings calls. However, it wasn't so much the numbers and the guidance that caught investors' attention. Instead, management outlined a significant restructuring plan that gives hope it might start to release value from 3M's portfolio of businesses.
As such, 3M is becoming an interesting stock again. Here's what you need to know.
First, let's recap what happened in the quarter and the near-term trajectory of the business. It's no secret that this industrial company faces several headwinds. Its consumer segment is under pressure due to weakness in consumer discretionary spending in areas like home improvement, auto care, and home health. Organic sales were down 6.8% year-over-year in the quarter.
Source Fool.com
