Signs of growth following global shake-up.

 

3M’s home improvement sector was the best performing segment for the US company’s Consumer division in the fourth quarter of 2024.

 

Consumer returned to growth in Q4, up 1.2 per cent organically year-on-year to US$1.23 billion. 

 

Home improvement grew in the low single digits, driven by strength during the holiday season for the Command and Scotch brands.

 

On a reported basis, 2024 revenue from the Packaging & Expression segment – which includes stationery and office products – was US$1.17 billion, down from US$1.22 billion, a decrease of about four per cent.

 

Consumer’s adjusted operating margin for 2024 was 18.9 per cent, up from 18 per cent in 2023. 

 

This was helped by the largest restructuring programme in 3M’s history, which is now largely completed. 

 

In the past two years, the company has shed around 8700 jobs, or 12 per cent of its workforce, and closed 75 offices. It has also transitioned 27 countries to an export model.

 

LA wildfires support

Meantime, to help protect the respiratory health and safety of first responders and communities affected by the devastating wildfires in the Los Angeles area, 3M worked  with aid agency Direct Relief, to provide five million N95 respirators to support global response efforts when wildfires strike.

 

For more on these and other global stories from OPI, go to https://www.opi.net/news/region/001-north-america/diy-leads-the-way-at-3m/