YCharts provides data on Illinois Tool Works and 3M, two companies with distinct approaches. While Illinois Tool Works prioritizes customer feedback and innovation, 3M focuses on research and development to create unique products with strong pricing power. However, 3M has faced challenges in generating substantial sales growth and meeting expectations in recent years.
Former CEO Mike Roman made significant acquisitions and divestitures in an effort to revamp 3M’s healthcare business, but the results were mixed. Despite restructuring efforts, 3M struggled to achieve desired growth, prompting the need for increased investment in R&D.
Looking ahead to 2025, new CEO Bill Brown aims to build on Roman’s initiatives and drive growth through enhanced product development. Brown plans to invest in research and development to introduce new products and streamline operations for improved efficiency.
While 3M has faced setbacks, there is potential for improvement under Brown’s leadership. By focusing on innovation, operational enhancements, and strategic investments, 3M aims to overcome past challenges and unlock growth opportunities in the future.
3M’s industrial business, now that the healthcare segment has been divested, along with a variety of operational enhancements, is poised to drive earnings growth in the upcoming years. This positions the company as a compelling value opportunity at present. Don’t overlook this chance to potentially capitalize on a lucrative prospect.
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*Returns from Stock Advisor as of December 30, 2024
Lee Samaha does not hold any positions in the mentioned stocks. The Motley Fool has disclosed positions in and recommends 3M and also recommends Illinois Tool Works. The Motley Fool adheres to a strict disclosure policy.
