Company News: 3M (MMM) quarterly results miss analysts’ estimates

Market news

25 April 2019

Company News: 3M (MMM) quarterly results miss analysts’ estimates

3M (MMM) reported Q1 FY 2019 earnings of $2.23 per share (versus $2.50 in Q1 FY 2018), missing analysts’ consensus of $2.50.

The company’s quarterly revenues amounted to $7.863 bln (-5.0% y/y), missing analysts’ consensus estimate of $8.025 bln.

The company also issued downside guidance for FY 2019, projecting EPS of $9.25-9.75 versus its prior guidance of $10.45-10.90 and analysts’ consensus estimate of $10.52.

MMM fell to $202.31 (-7.65%) in pre-market trading.

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