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

Market news

28 January 2020

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

3M (MMM) reported Q4 FY 2019 earnings of $1.95 per share (versus $2.31 per share in Q4 FY 2018), missing analysts' consensus estimate of $2.10 per share.

The company's quarterly revenues amounted to $8.111 bln (+2.1% y/y), roughly in line with analysts' consensus estimate of $8.121 bln.

The company also issued guidance for FY 2020, projecting EPS of $9.30-9.75 (versus analysts' consensus estimate of $9.61) and revenues of $32-$32.74 bln (versus analysts' consensus estimate of $33.7 bln).

MMM fell to $172.99 (-1.50%) in pre-market trading.

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