(Reuters) -3M Co on Tuesday reported a quarterly loss compared to a year-ago profit, as the U.S. industrial conglomerate took a hit from a $10.3 billion settlement related to water pollution claims tied to “forever chemicals”.
Last month, the diversified manufacturer agreed to pay the settlement to a host of U.S. public water systems to resolve water pollution claims.
The company is facing thousands of lawsuits related to its use of “forever chemicals” that are linked to cancer, hormonal dysfunction and environmental damage, and defective earplugs that caused hearing loss for U.S. military members and.
The St. Paul, Minnesota-based company reported a loss of $12.35 per share for the second quarter, compared with a profit of 14 cents, a year earlier.
(Reporting by Kannaki Deka in Bengaluru; Editing by Shinjini Ganguli)
