3M forecasts 2024 profit below analyst estimates (updated)

3M Co

23/01/2024 11:53

(Recast with forecast, adds shares, context)
       Jan 23 (Reuters) - U.S. industrial conglomerate 3M Co
 MMM.N  forecast on Tuesday full-year earnings below analysts'
estimate, sending its shares down 5.3% in premarket trading. 
    It forecast 2024 profit between $9.35 and $9.75 per share,
compared with analysts' average estimate of $9.81, according to
LSEG data.
    The St. Paul, Minnesota-based company also reported an
adjusted profit of $2.42 per share for the fourth quarter,
compared with $2.18 per share a year earlier. 

 (Reporting by Kannaki Deka in Bengaluru; Editing by Shinjini
Ganguli)
 ((Kannaki.Deka@thomsonreuters.com;))