3M Co reports results for the quarter ended in December - Earnings Summary

3M Co

23/01/2024 15:31

* 3M Co  MMM.N  reported quarterly adjusted earnings of
$2.42​​
per share for the quarter ended in December, higher than the
same quarter last year, when the company reported EPS of $2.28. 
The mean expectation of fifteen analysts for the quarter was
for earnings of $2.31 per share. Wall Street expected results to
range from $2.22  to $2.37 per share.
    * Revenue fell 4.8% to $7.69 billion from a year ago;
analysts
expected $7.70 billion. 
    * 3M Co's reported EPS for the quarter was $1.70​.
    * The company reported quarterly net income of $945 million.
    * 3M Co shares had fallen by 1.2% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.8%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 16
"hold" and 2 "sell" or "strong sell." 
    * Wall Street's median 12-month price target for 3M Co is
$111.00 

This summary was machine generated from LSEG data January 23 at
03:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      2.31           2.42           Beat
 Sep. 30 2023      2.34           2.68           Beat
 Jun. 30 2023      1.72           2.17           Beat
 Mar. 31 2023      1.58           1.97           Beat