3M outlined new five-year financial objectives on Tuesday during a meeting with investors and analysts at its Maplewood headquarters.
 
To ensure its performance remains consistent from now through 2020, the manufacturer behind Post-It notes, Scotch tape and industrial supplies discussed how its playbook—which it defines as portfolio management, investing in innovation, and business transformation—will embolden its five core business sectors to become “more relevant to customers, more agile and more competitive.”
 
3M’s financial objectives include growing its earnings per share by 8 to 11 percent, increasing its organic local currency sales by 2 to 5 percent, maintaining a 20 percent return on invested capital, and having a 100 percent free cash flow conversion.
 
“These objectives reflect our confidence in driving efficient growth—that is, strong sustainable growth and premium returns—well into the future,” 3M CEO Inge Thulin said in a statement.
 
During the meeting, 3M reaffirmed its 2016 full-year earnings expectations to be in the range of $8.10 to $8.45 per share. The company also anticipates organic local-currency sales growth of 1 to 3 percent and free cash flow conversion to be in the 95 to 105 percent range.
 
Moreover, 3M made note of the recently unveiled 3M Carlton Science Center, a $150 million research and development facility housing up to 700 scientists from dozens of scientific backgrounds, which the company hopes will foster innovation and subsequently new patents and products to sell.