Earnings Results: 3M calls out ‘rapid declines’ in consumer businesses amid spending pressures

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Shares of 3M Co. were falling toward their worst single-day decline since August as the company came up short with its earnings outlook, calling out “accelerated” pressure on consumers that could persist for at least the first half of this year.

The manufacturing giant, whose brands include Post-it Notes, Nexcare bandages, and Scotch-Brite cleaning products, also missed earnings expectations for its latest quarter. The company earned an adjusted $2.28 a share, down from $2.45 a share a year earlier, and below the FactSet consensus,…

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