Reuters.3M (NYSE:) reported robust operational and financial results during its third quarter earnings conference call on October 24, 2023. The company achieved double-digit year-on-year growth in free cash flow for the third consecutive quarter and expanded margins across all four businesses. As a result, 3M revised its full-year adjusted earnings per share guidance to $8.95 to $9.15 and adjusted free cash flow conversion range to 100% to 110%. The company is also progressing with the spin-off of the healthcare business, expected to be completed in the first half of 2024.
Key takeaways from the call include:
- The company returned $828 million to shareholders through dividends and reduced net debt by 11% year-on-year to $10.8 billion…
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