3M's Q4 2024 Earnings Call: Navigating Growth Amidst Supply Chain Improvements and Product Innovations

Operational Performance and Revenue Growth:
- 3M reported adjusted earnings per share of $1.68 for Q4 2024, with 2.1% organic revenue growth.
- The revenue growth was driven by commercial execution improvements and a focus on innovation, with 169 new products launched, up 32% from the previous year.

Segment Performance and Strategic Initiatives:
- The company's Safety and Industrial division grew 2.4%, driven by strong demand for e-bonding and cable accessories.
- The Transportation and Electronics division grew 2% organically, supported by growth in consumer electronics and aerospace.
- 3M also reduced inventory days by 2 days and improved operating margin by 19.7%.

Product Innovation and Launch Strategy:
- 3M launched 169 new products in 2024, surpassing expectations, with a focus on high-performance launches like the LCD 2.0 platform and Expanded Beam Optics (EBO) connectors.
- The company expects a double-digit increase in new product launches in 2025, with a focus on higher octane products.

Supply Chain and Operational Excellence:
- 3M's on-time in-full (OTIF) rate improved to 88% in 2024, up 8 points from 2022.
- The company emphasized improving demand planning, supplier delivery performance, and logistics to enhance service levels and operational efficiency.