Latest news with #industrial
Yahoo
an hour ago
- Business
- Yahoo
3M's (MMM) Commitment to Innovation Drives Dividend Growth
3M Company (NYSE:MMM) is included among the . A specialized industrial laboratory, filled with high-tech machinery for producing abrasives. 3M Company (NYSE:MMM) is well known for inventing Post-it Notes, which have become a common item in workplaces, classrooms, and homes around the world. The company also introduced Scotch tape in 1930, initially designed to seal cellophane food wrappers. This transparent tape soon gained widespread popularity thanks to its wide range of uses, from wrapping presents to handling routine household tasks. 3M Company (NYSE:MMM) recently reported earnings for the second quarter of 2025. The company's revenues came in at $6.34 billion, which showed a 1.4% growth from the same period last year. It continued the momentum seen in the first quarter, marking the third consecutive quarter of organic growth across all three business segments. Management attributed this progress to the 3M eXcellence operating model, which underpins the company's strategic priorities and reinforces a disciplined and consistent performance culture. With stronger execution and solid results in the first half of the year, the leadership expressed confidence in the raised full-year EPS forecast, which now also reflects the anticipated effect of tariffs. 3M Company (NYSE:MMM) is currently paying a quarterly dividend of $0.73 per share. Although the company reduced its dividend by half last year and has only increased it once since, it has continued to prioritize shareholder returns. In the latest quarter, 3M distributed $1.3 billion to investors through dividends and stock buybacks. The stock supports a dividend yield of 1.92%, as of July 28. While we acknowledge the potential of MMM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
5 hours ago
- Business
- Yahoo
Fortive quarterly profit falls on sluggish demand but beats estimates
(Reuters) -Fortive on Wednesday beat second-quarter profit estimates, as higher margins at its healthcare segment and lower operating costs at its larger intelligent operating solutions segment, offset softening demand for the company's industrial products. Shares of the maker of industrial measurement equipment and software-enabled automation used in various industries rose nearly 2.1% in premarket trading. "Despite uncertainty related to trade, healthcare and government spending policy impacting demand in the second quarter, we delivered strong earnings," CEO Olumide Soroye said. U.S. President Donald Trump's wave of tariffs on materials such as copper and steel, and on countries including China, have created the risk of disrupting an already-strained supply chain and increased costs for businesses. However, Fortive's cost reduction measures have helped it beat Wall Street expectations for the quarter's profit and revenue despite flat growth from an year ago. As part of the effort, the company completed its spin-off of Ralliant in June, which it had announced in September last year. Ralliant, consists of Fortive's previous precision technologies segment which makes electrical testing, measurement, sensing, and material technologies for several industrial end markets. For continuing operations excluding Ralliant, Fortive now anticipates annual adjusted net earnings per share of $2.50 to $2.60. Last quarter, it had forecast annual adjusted profit ranging $3.80 to $4 per share, prior to the spin off. The Everett, Washington-based company reported an adjusted profit of 90 cents per share for the quarter ended June 27, compared with estimates of 59 cents, according to data compiled by LSEG. Last year it posted an adjusted profit of 93 cents apiece. Its quarterly revenue fell by $4 million to $1.02 billion from a year earlier. Analysts, on average, were expecting $1.01 billion. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
7 hours ago
- Business
- Yahoo
IDEX Corp slashes 2025 profit forecast on slow demand for industrial equipment
(Reuters) -IDEX Corp on Thursday trimmed its forecast for annual profit, anticipating slowing demand for industrial equipment due to growing economic uncertainty. U.S. President Donald Trump's sweeping import tariffs have sparked fears of an economic recession in the country, prompting businesses to reconsider their spending on products such as industrial equipment. "Order trends in our rapid-turn businesses downshifted slightly exiting the second quarter... (and) in this uncertain macro-environment, several customers are taking a more cautious stance on larger orders," said CEO Eric Ashleman. In June, the Institute for Supply Management's manufacturing PMI came in at 49, marking the fourth consecutive month of contraction in the sector. A reading below 50 signals shrinking activity, while one above 50 indicates growth. IDEX, whose end-markets include industrials, energy, automotives and chemicals, expects its 2025 adjusted profit to be between $7.85 and $7.95 per share, compared with a prior view of between $8.10 and $8.45. The company's quarterly earnings stood at $2.07 per share, compared to an estimated profit of $1.99, according to data compiled by LSEG. Its total revenue rose 7.2% to $865.4 million for the quarter ended June from a year earlier. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
a day ago
- Business
- Reuters
Baker Hughes bets on LNG, data center demand with $13.6 billion Chart Industries deal
July 29 (Reuters) - Baker Hughes (BKR.O), opens new tab said on Tuesday it would buy Chart Industries (GTLS.N), opens new tab in a $13.6 billion all-cash deal, including debt, edging out rival suitor Flowserve (FLS.N), opens new tab, to expand in the LNG, data centers and decarbonization segments. The deal is part of Baker Hughes' efforts to leverage its industrial and energy technology portfolio, which helped boost second-quarter earnings, and adds to the ongoing consolidation in the oilfield services and industrial supply sector. The company has offered Chart Industries' shareholders $210 per share held, representing a premium of about 22% based on the last close. Chart Industries shares were up 16.2% at $199.50 in premarket trading. The deal follows Chart's termination of a prior deal to merge with Flowserve, which decided not to raise its bid after being told Baker Hughes' proposal was "superior". Shares of Flowserve, which will receive a $266 million breakup fee, were up 4.36% at $57.25 in premarket trading. Flowserve's all-stock bid valued Chart at $159.98 per share, according to Reuters calculations. The transaction has an equity value of about $9.44 billion, according to Reuters calculation. It is expected to close by mid-year 2026. Chart manufactures industrial equipment such as valves and measurement technology for gas and liquid molecule handling. Baker Hughes said $325 million in annualized cost synergies were expected to be realized at end of the third year.
Yahoo
a day ago
- Business
- Yahoo
Baker Hughes to buy Chart Industries in $13.6 billion deal
(Reuters) -Oil and gas equipment supplier Baker Hughes said on Tuesday it would acquire Chart Industries in a $13.6 billion all-cash deal, including debt, edging out rival suitor Flowserve. The deal adds to the ongoing consolidation in the oilfield services and industrial supply sector, as companies combine to expand geographic reach, broaden product offerings and improve operational efficiency. Baker has offered Chart Industries' shareholders $210 per share held, representing a premium of about 22% based on the last close, implying an equity value of about $9.44 billion, according to Reuters calculation. The transaction is expected to close by mid-year 2026.
