By Paulo Trevisani

3M Co. said Tuesday that foreign currency translation is expected to have a negative impact on sales and earnings in 2023.

The company said it expects sales to decline 2% to 6% this year, due in part to an unfavorable forex impact of 1% to 2%. It forecast earnings per share between $8.50 and $9, down from $9.88 in 2022, including currency headwinds.

3M reported sales of $8.1 billion in the fourth quarter, down 6% from a year earlier, including a 5% negative forex impact due to a strong dollar. For the full year, sales declined 3% to $34.2 billion, including a 4% forex headwind, the company said.

Write to Paulo Trevisani at paulo.trevisani@wsj.com

(END) Dow Jones Newswires

January 24, 2023 09:15 ET (14:15 GMT)

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