A mega-cap industrial like 3M (NYSE: MMM )
is never going to escape being tied to global economic growth.
However, 3M shareholders can expect the management to generate every
piece of operational efficiency and growth that it can out of its
sprawling empire. Fortunately, 3M's management is doing a pretty good
job of it in the middle of a slow global economy.
3M reports mixed geographic results
A company of 3M's market size and geographic reach will never see all of its parts firing on all cylinders at the same time. In its fourth quarter, it was the turn of its emerging market results to come in with disappointing results. In particular, Latin America was weaker than expected with just 2.2% growth in constant currency. Meanwhile, Asia-Pacific grew 3.3% in constant currency.
A company of 3M's market size and geographic reach will never see all of its parts firing on all cylinders at the same time. In its fourth quarter, it was the turn of its emerging market results to come in with disappointing results. In particular, Latin America was weaker than expected with just 2.2% growth in constant currency. Meanwhile, Asia-Pacific grew 3.3% in constant currency.
No comments:
Post a Comment