I wrote an article about it yesterday and today 1/2 of the problems are solved and $MMM+23.0% stock is up less than 5% so far. I like it that way! 😄
3M has committed to pay up to $10.3 billion over the next 13 years to support PFAS remediation for public water suppliers (PWS) in the US. Now all we have to do is sort out the earplugs and we're done. As I wrote yesterday, the stock is being held down by the uncertainty over the amount. Today basically confirmed my scenario that the amount that is +- expected will be quantified and the stock will rebound.
3M
MMMCapital Structure
Market Cap
70.4B
Enterpr. Val.
81.6B
Valuation
P/E
-10.0
P/S
2.2
Well, that's great news, and I'm glad to hear it. However, as Marek writes, earplugs will probably be a bigger problem.
Well, that's great news, and I'm glad to hear it. However, as Marek writes, earplugs will probably be a bigger problem.
Nothing again 😂
I guess earplugs are still a bit of a pain. We may be where we were, but I'm glad to hear that. The amount is manageable.
Great news for investors, plus the 10bn will be spread over 13 years, so the burden is kind of minimal seeing the numbers they generate annually.
One would have expected more of a drop after having to pay $10 billion, but I guess it's really in the share price here.