3M Co (BSP:MMMC34)

R$ 129.87 -0.11 (-0.08%) Market Cap: 287.46 Bil Enterprise Value: 345.18 Bil PE Ratio: 0 PB Ratio: 11.37 GF Score: 62/100

3M Co at Credit Suisse Industrials Conference Transcript

Dec 05, 2019 / 02:30PM GMT

Release Date Price: R$177.5

Transcript

John Fred Walsh;dit Suisse AG

CrÃ;Research Division - Director

© -

All right. Welcome back, everybody. We are very excited to have 3M here again with us this year. Up on stage with me, we have Mike Roman, 3M's CEO. And I think before we get into Q&A, he has a couple of remarks he's going to make. And then, obviously, if you have questions, if you could please wait for the microphone just for the benefit of everybody on the webcast. Thank you.

Michael F. Roman

3M Company - CEO & Chairman

John, thanks for having me here today. It's great to be here. So yes, maybe just to frame up our discussion a little bit. Looking back at 2019, certainly, 2019 was a challenging year, and we saw some particular focused challenges in key end markets, China, automotive and electronics. That's really framed up some of the things that we did in -- during the year. It's really changed dramatically in first quarter, the outlook for the year.

We took actions. We took Q2 cost restructuring actions. We've driven the focus on reducing inventory,

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