Was the stock hike after BB was appointed just a short term spike? Struggling to understand what we are being judged on.
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Bad stock price. Low morale. High expectations with less people. Loss of LTI. Sure. Why not have us RTW. Maybe stop squeezing your workers and making the plants so mad they can’t work from home because they hate their jobs even more.
The investor callers really did not pull any punches with their questions. BB handles the earnings call so much better than MR. And to tell them that there is no point heaping another metric like NPVI on top when it is more important to look at what new products were actually launched was a nice change.
I am still a skeptic, but who knows...
Reason for drop is because 3M did not raise the top end of full year guidance. Full year earnings guidance went from $7.10-7.30 to $7.20-7.30. In other words, Q4 earnings is implied to be $1.58-1.68. Analysts were expecting $1.69. Also, 3M share price has run up quite a bit this year so there is also profit taking. Company is doing well. Share price will rebound.
Basically it seems they are back pedalling on many policy or even operating model. Just look at reverting to country ops model away from BG led. China India will be first, many would follow. Mark my words.
Let's not forget that announcing RTO is basically a company admitting that they're run by stodgy old guys who are stuck in the past and can't come up with new ideas.
Nothing says "moving forward" like trying to go back to the way things used to be.
Stock recovered because of buy back. Nothing new. Stock will drop back to where it used to. Sell sell and sell.
Investors do not see growth. The operations that is being discussed is to bring discipline on wasted products etc etc which anyway a business has to do. Nothing surprising. But beyond that what is the future. When he mentions NPI, he refers to line extension not new growth.
Just pray hard that BB doesn't follow footsteps of MR. Everytime MR opens his mouth during the earnings call, the stock takes a beating.