3M reported a strong first quarter for 2024, surpassing analysts' expectations with an adjusted EPS of $2.39, against the estimated $2.10, reflecting a 17% year-over-year increase. The company's sales reached $8.003 billion, also exceeding the forecast of $7.630 billion, supported by strategic price hikes and cost cuts. Looking ahead, 3M projects its adjusted EPS for the full year to range between $6.80 and $7.30. Additionally, the company announced plans for a dividend payout ratio of about 40% of its adjusted free cash flow. Following these announcements, 3M's stock price surged, approaching a 14-month high. The company also reported a 22% increase in operating income and a 340 basis points improvement in operating margin year-over-year, marking the beginning of the Bill Brown era.