Company News: 3M (MMM) quarterly earnings beat analysts’ forecast

Market news

24 October 2019

Company News: 3M (MMM) quarterly earnings beat analysts’ forecast

3M (MMM) reported Q3 FY 2019 earnings of $2.72 per share (versus $2.58 in Q3 FY 2018), beating analysts’ consensus estimate of $2.52.

The company’s quarterly revenues amounted to $7.991 bln (-2.0% y/y), missing analysts’ consensus estimate of $8.197 bln.

The company also issued downside guidance for Q4 FY 2019, projecting GAAP EPS of $2.05-2.15 versus analysts’ consensus estimate of $2.37.

MMM fell to $166.21 (-1.51%) in pre-market trading.

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