Company News: 3M (MMM) quarterly results beat analysts’ forecasts

Market news

27 July 2021

Company News: 3M (MMM) quarterly results beat analysts’ forecasts

3M (MMM) reported Q2 FY 2021 earnings of $2.59 per share (versus $1.78 per share in Q2 FY 2020), beating analysts’ consensus estimate of $2.28 per share.

The company’s quarterly revenues amounted to $8.900 bln (24.0% y/y), beating analysts’ consensus estimate of $8.594 bln.

The company also raised guidance for FY 2021, projecting EPS of $9.70-$10.10 versus its prior guidance of $9.20-$9.70 and analysts’ consensus estimate of $9.85 and total revenues growth of 7-10% y/y, equating to revenue of $34.43-$35.40 bln versus analysts’ consensus estimate of $34.88 bln. Its prior guidance was for revenue growth of 5-8% y/y.

MMM rose to $203.79 (+1.05%) in pre-market trading.

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