3M Company (MMM) Targets Innovation and Operational Efficiency to Bolster Margins

3M Company (NYSE:MMM) is one of the best conservative stocks to buy now. On September 11, at Morgan Stanley’s 13th Annual Laguna Conference, CEO Bill Brown reiterated plans to accelerate growth and expand margins through strategic initiatives.

The company aims to achieve a 25% margin expansion by 2027, with a focus on innovation and operational efficiency. The margin expansion is expected to follow as the company plans to strengthen its pipeline with the launch of 1,000 new products over the next three years.

“What we laid out at the investor day is that we would generate $1 billion of growth above the macro over the next three years. We said, look, half of that is going to come out of commercial excellence, and half is going to come out of new product introductions. We also said that the front end of it is going to be mostly commercial excellence, and that NPI or the growth from innovation will be the accelerant beyond it in 2026 and 2027,” CEO Brown said.

In the first half of the year, the 3M Company achieved 1.5% organic growth and is on track to achieve 2.5% growth in the second half of the year.

3M Company (NYSE:MMM) is a global science-based technology company that invents and applies its diverse technologies to create innovative products for businesses and consumers. It offers products ranging from Post-it® Notes and Scotch® Tape to advanced materials, medical supplies, and safety equipment across various industries, including healthcare, automotive, consumer goods, and electronics.

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Disclosure: None. This article is originally published at Insider Monkey.