3M Affirms 2012 EPS Expectations and Addresses 2013 Outlook

  3M Affirms 2012 EPS Expectations and Addresses 2013 Outlook

Business Wire

ST. PAUL, Minn. -- December 12, 2012

On a conference call with analysts and investors, 3M (NYSE: MMM) today will
affirm its 2012 earnings-per-share target of $6.27 to $6.35 and provide a
roadmap for the company’s 2013 performance expectations.

3M anticipates 2013 earnings to be in the range of $6.70 to $6.95 per share
with organic local-currency sales growth of 2 to 5 percent for the year. The
company expects that free cash flow conversion will be in the range of 90 to
100 percent.

"I look forward to another strong year for 3M,” said Inge G. Thulin, 3M
chairman, president and chief executive officer. "Our unique combination of
technology, manufacturing prowess and global capability – along with inherent
operational excellence – will enable us to once again grow sales and profits."

Today’s conference call will begin at 9:30 a.m. ET (8:30 a.m. CT). Investors
can access the conference via the following:

  *Live webcast at http://investor.3M.com
  *Live telephone:
    Call 800-762-2596 within the U.S. or +1 212-231-2916 outside the U.S.

  *Webcast replay:
    Go to 3M’s Investor Relations website at http://investor.3M.com and click
    on “2013 Outlook Conference Call.”

  *Telephone replay:
    Call 800-633-8284 (for both U.S. and outside the U.S.; access code is
    The telephone replay will be available until 10:00 a.m. CT on December 15,

Forward-Looking Statements
This news release contains forward-looking information about 3M's financial
results and estimates and business prospects that involve substantial risks
and uncertainties. You can identify these statements by the use of words such
as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe,"
"will," "target," "forecast" and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance or
business plans or prospects. Among the factors that could cause actual results
to differ materially are the following: (1)worldwide economic and capital
markets conditions and other factors beyond the Company's control, including
natural and other disasters affecting the operations of the Company or its
customers and suppliers; (2) the Company's credit ratings and its cost of
capital; (3)competitive conditions and customer preferences; (4)foreign
currency exchange rates and fluctuations in those rates; (5)the timing and
market acceptance of new product offerings; (6)the availability and cost of
purchased components, compounds, raw materials and energy (including oil and
natural gas and their derivatives) due to shortages, increased demand or
supply interruptions (including those caused by natural and other disasters
and other events); (7)the impact of acquisitions, strategic alliances,
divestitures, and other unusual events resulting from portfolio management
actions and other evolving business strategies, and possible organizational
restructuring; (8)generating fewer productivity improvements than estimated;
(9)security breaches and other disruptions to the Company's information
technology infrastructure; and (10) legal proceedings, including significant
developments that could occur in the legal and regulatory proceedings
described in the Company's Annual Report on Form10-K for the year ended
December31, 2011 and its subsequent quarterly reports on Form 10-Q (the
"Reports"). Changes in such assumptions or factors could produce significantly
different results. A further description of these factors is located in the
Reports under "Cautionary Note Concerning Factors That May Affect Future
Results" and "Risk Factors" in PartI, Items 1 and 1A (Annual Report) and in
Part I, Item 2 and Part II, Item 1A (Quarterly Report). The information
contained in this news release is as of the date indicated. The Company
assumes no obligation to update any forward-looking statements contained in
this news release as a result of new information or future events or

About 3M
3M captures the spark of new ideas and transforms them into thousands of
ingenious products. Our culture of creative collaboration inspires a
never-ending stream of powerful technologies that make life better. 3M is the
innovation company that never stops inventing. With $30 billion in sales, 3M
employs 84,000 people worldwide and has operations in more than 65 countries.
For more information, visit www.3M.com or follow @3MNews on Twitter.


Investor Contacts:
Matt Ginter, 651-733-8206
Bruce Jermeland, 651-733-1807
Media Contact:
Jacqueline Berry, 651-733-3611
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