How the 3M Stock Turnaround Is Happening Faster Than Expected

Industrial conglomerate 3M (MMM) is undergoing a swift turnaround on Wall Street, driven by stronger execution and margin expansion. The company has been under fire for years due to heavy litigation pressure. It has paid more than $10 billion in settlements to resolve claims of polluting water bodies with PFAs, or “forever chemicals.” 3M has also begun settling a $6 billion payment to veterans over earplugs that caused hearing loss.

However, the company seems to be moving past that phase, as investors focus on potential growth and margin expansion. 3M CEO William Brown said the company’s on-time, in-full (OTIF) deliveries have improved from the low 80% range to about 90%, with some consumer-business units consistently achieving rates in the mid-90% range.