3M: Q3 Earnings Snapshot
ST PAUL, Minn. (AP) – 3M Co. (MMM) on Tuesday reported third-quarter profit of $3.86 billion.
On a per-share basis, the St. Paul, Minnesota-based company said it had profit of $6.77. Earnings, adjusted for non-recurring gains, came to $2.69 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.61 per share.
The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8.62 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $8.7 billion.
3M expects full-year earnings in the range of $10.10 to $10.35 per share.