3M beats first-quarter estimates, flags potential tariff hit on 2025 profit
U.S. industrial conglomerate 3M Co. on Tuesday beat Wall Street expectations for first-quarter profit on cost cutting, sending its shares up 7% even as it warned of a potential hit to 2025 earnings from trade tensions. Bill Brown, who succeeded Mike Roman as CEO in May, laid out a restructuring plan in July focused on reining in spending and redirecting funds from mitigating legal liabilities.In February, 3M said it was targeting an operating margin of about 25% by 2025. In the first quarter, adjusted opera ...