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2021-09-14

3M Doubles Its Estimated Drop in Car Output on Chip Shortage

Semiconductor supplies to roil auto industry into 2022: CFO Inflation to ding profits at Post-it not

3M Doubles Its Estimated Drop in Car Output on Chip Shortage

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Toyota last week&nbsp;trimmed&nbsp;its annual production forecast due to the constraint and the spread of coronavirus cases in southeast Asia. GM has said it expects the situation to&nbsp;worsen&nbsp;this year before improving in 2022, while VW’s chief executive has&nbsp;warned&nbsp;the shortages could last for years.</p>\n<p>Patolawala said the chip issue is one of several supply-chain issues that, along with higher inflation, is likely to negatively affect the St. Paul, Minnesota-based manufacturer’s earnings per share this year. He said that will impact the company on the “high end” of the 65 cents per share to 80 cents per share range. In July, 3M&nbsp;forecast&nbsp;earnings per share of $9.70 to $10.10 for the full year.</p>\n<p>3M shares rose 1.8% to $187.82 as of 10:58 a.m. in New York.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3M Doubles Its Estimated Drop in Car Output on Chip Shortage</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Toyota last week trimmed its annual production forecast due to the constraint and the spread of coronavirus cases in southeast Asia. GM has said it expects the situation to worsen this year before improving in 2022, while VW’s chief executive has warned the shortages could last for years.\nPatolawala said the chip issue is one of several supply-chain issues that, along with higher inflation, is likely to negatively affect the St. Paul, Minnesota-based manufacturer’s earnings per share this year. He said that will impact the company on the “high end” of the 65 cents per share to 80 cents per share range. 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3M Doubles Its Estimated Drop in Car Output on Chip Shortage

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