Yes, I saw that in the 8-K with the press release too. That's another reason this worries me. They are supposed to have systems and controls to monitor their financial performance. I would imagine they are updating their forecasts with real-time data weekly or monthly and investor presentations are not something you slap together overnight and let anybody post to your website. Again, it strikes me that they knew this for some time, but didn't care to tell their investors. It appears management has something to hide or is grossly incompetent (or both) Either way, I'm not happy.
Unbelievable that this is being announced so late. I'm surprised that management didn't know they were going to miss their guidance by a wide margin until 20 days after the end of the quarter. Definitely something strange going on and I would not be surprised to see another shoe drop.
I've been a holder and supporter of the stock, but given its poor performance over the last year or so and this downward guidance, perhaps it's time for new management.
Price has been running in place over the last year. Can only hope that management is using this opportunity to buy back boatloads of stock. Would love to hear that they purchased all 3M shares that were authorized to be purchased on the next cc.