3M Co (NYSE:MMM)

$ 100.08 0.45 (0.45%) Market Cap: 55.38 Bil Enterprise Value: 66.57 Bil PE Ratio: 0 PB Ratio: 11.38 GF Score: 71/100

3M Co at Morgan Stanley Laguna Conference Transcript

Sep 11, 2019 / 05:30PM GMT

Release Date Price: $140.53 (-0.46%)

Transcript

Joshua Charles Pokrzywinski

Morgan Stanley, Research Division - Equity Analyst

Thanks, everybody. We're going to get started again with 3M. Always a good conversation. Nick, thanks for joining us.

So maybe just to start off, if you want to give us a bit of a lay of the land, what you're seeing out there, some of the strategic imperatives for 3M right now, and we'll dive into questions.

Nicholas C. Gangestad

3M Company - Senior VP & CFO

Great. Thanks, Josh. Really good to be here this morning. And I'm encouraged by 3M's progress and performance in the second quarter coming off a difficult start to the year. While we continue to face slower growth in some of our key end markets, our execution was strong in Q2, and we did that while implementing a restructuring action, continuing to manage costs tightly and reducing our inventory levels.

While we're pleased with that progress, there's still more work to do. And 3M has deep competitive advantages, an incredible technology set of platforms, advanced manufacturing, global capabilities and

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