Can you give more color into 25 margin guidance by segment and then also comment on T&E margin in particular in Q4-24 as it seemed a little weak in Q4 versus the other segments?

Jan 21, 2025 / receipt, needs a key / Steve, analyst | earnings call 2025-01-21 | transcript a15bce15-c522-4379-a914-01c343e5019b | chars 31435-31612 | segment 32

We will reduce costs at the corporate center by eliminating management layers across the company. We are broadly reducing our corporate shared services, like our central design group. We are reducing rooftops worldwide, including exiting our conference center in northern Minnesota.

Apr 25, 2023 / receipt, needs a key / Mike Roman, CEO | earnings call 2023-04-25 | transcript a1dec6c4-2ee5-4308-a4ee-94cf0543c51b | chars 3026-3308 | segment 3

Our actions to reduce costs, which included plant spending, external services, travel, and hiring help drive stronger than expected earnings and margins.

Apr 25, 2023 / receipt, needs a key / Mike Roman, CEO | earnings call 2023-04-25 | transcript a1dec6c4-2ee5-4308-a4ee-94cf0543c51b | chars 8969-9122 | segment 9

As discussed, we implemented very aggressive cost controls in the first quarter given the challenging start to the year, including on travel, advertising, external services, and headcount management.

Apr 25, 2023 / receipt, needs a key / Monish, CFO | earnings call 2023-04-25 | transcript a1dec6c4-2ee5-4308-a4ee-94cf0543c51b | chars 22277-22476 | segment 22

In addition, we expect to incur higher costs related to our ongoing litigation matters, along with increases in other indirect related costs like travel expense.

Oct 26, 2021 / receipt, needs a key / Mike, other | earnings call 2021-10-26 | transcript 94857ca8-e9d2-40eb-b0ea-c6c019cd52de | chars 22898-23059 | segment 23

But I think both consumer and T&E are facing tougher comps in the fourth quarter. Is the expectation that those businesses can still grow organically or is there a risk they could be down year on year?

Oct 26, 2021 / receipt, needs a key / Nicole DeBlaise, other | earnings call 2021-10-26 | transcript 94857ca8-e9d2-40eb-b0ea-c6c019cd52de | chars 51086-51287 | segment 52

So I would boil it down to saying what margin will come down to in the second half and what incrementals are will depend on the volume, will depend on our ability to offset the price, the raw and logistics pressure through price increase. continued productivity and good execution by the 3M team, and then finally our decision on how much we're going to invest in growth, productivity, and sustainability, plus a lot of these indirects that start snapping back as hopefully people start traveling. You've seen we've been very disciplined in the first half of making sure that we didn't spend ahead of what volumes come back. But as we see volumes coming back in, you're going to see those indirects start snapping back up.

Jul 27, 2021 / receipt, needs a key / Mike Roman, CEO | earnings call 2021-07-27 | transcript 73e4746c-b4a9-4f21-8342-b95222cdb926 | chars 50919-51641 | segment 52

And then if this economy continues to go the way it is, our look is that indirect costs, travel costs, some of the legal costs that we talked about will keep going up.

Apr 27, 2021 / receipt, needs a key / Monish Patwari, CEO | earnings call 2021-04-27 | transcript 4dfee388-b33d-4cdb-958b-e75f6a9e4e27 | chars 35980-36147 | segment 36

Indirect costs, so as the economies are starting to open up, you are going to see hopefully, ad merch and travel start to go up.

Apr 27, 2021 / receipt, needs a key / Manish, CFO | earnings call 2021-04-27 | transcript 4dfee388-b33d-4cdb-958b-e75f6a9e4e27 | chars 40691-40819 | segment 41

Partially offsetting these benefits are anticipated year-on-year headwinds from the Q4 2020 gain on sale of real estate an expected increase in areas such as travel, variable incentive compensation, and advertising and merchandising investments.

Jan 26, 2021 / receipt, needs a key / Monish Pasricha, CFO | earnings call 2021-01-26 | transcript 88ca5577-5ee8-47dc-bf4b-cc9768c777da | chars 25291-25536 | segment 26

One is, as you think about the property sales that are year over year, that are non-repeat, Secondly, all these indirect costs, travel is a big piece of that that comes back.

Jan 26, 2021 / receipt, needs a key / Monish Pasricha, CFO | earnings call 2021-01-26 | transcript 88ca5577-5ee8-47dc-bf4b-cc9768c777da | chars 30253-30427 | segment 31

Some of the indirect costs that will snap back, example, travel and variable compensation, is in that range of 35 to 45.

Jan 26, 2021 / receipt, needs a key / Manesh, CFO | earnings call 2021-01-26 | transcript 88ca5577-5ee8-47dc-bf4b-cc9768c777da | chars 39390-39510 | segment 40