Summary

• Q1 showed a mixed setup, with reported sales up but organic growth still weak.
• Adjusted EPS grew mid-teens, helped by margin expansion, buybacks, and non-operational items.
• Capital returns were aggressive, with $2.4B returned to shareholders in Q1.
• EBO gives 3M a small but fast-growing data center opportunity.

Why 3M Is Back On My Screen

3M (NYSE:MMM) is a global manufacturer of a wide variety of products and services running in 3 segments, safety and industrial being the biggest one, then transportation and

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