- 3M slashed its full-year earnings outlook and announced a restructuring plan.
- The company saw sales slump in several key businesses.
- Shares were down 8% early Thursday.
- Watch 3M trade live.
3M shares tumbled 8% on Thursday morning after the company slashed its outlook and announced restructuring efforts after seeing sluggish sales in key end markets.
The first quarter was a disappointing start to the year for 3M, said CEO Mike Roman in the earnings release.
We continued to face slowing conditions in key end markets which impacted both organic growth and margins, and our operational execution also fell short of the expectations we have for ourselves. As a result, we have stepped up a…
Read the full article at: https://www.businessinsider.com/earnings-3m-tumbles-after-slashing-announcing-restructuring-2019-4