3M Company (MMM – Q1FY20) – 3M posts 3% revenue growth in Q1, withdraws guidance.

in , on May 11, 2020

3M has completed the sale of substantially all of its drug delivery business to an affiliate of Altaris Capital Partners, LLC, for approximately $650 million including an interest bearing security and a 17% non controlling interest in the new company, Kindeva Drug Delivery, that will operate this business. Kindeva is a global leader in drug delivery partnering with pharmaceutical and biotech companies to develop and manufacture complex pharma products. The divested business has annual global sales of ~$380 million.

 Executive Summary

 Financial Statements

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– Results Overview
– Geographic Performance
– Realignment of business segments
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– Conclusion
– GAAP to Non-GAAP Reconciliation

Historical Performance

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Product Performance and Key Developments

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Release Information

  • Released

    May 11, 2020

  • Last Updated

    February 3, 2021