Post-It Maker 3M Q3 Earnings: Sales Growth Slows, Margins Expand, Raises Annual Profit Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
0mins
Should l Buy MMM?
Source: Benzinga
3M Company Financial Performance: 3M reported better-than-expected third-quarter results with net sales of $6.294 billion, adjusted EPS of $1.98, and revised FY24 EPS guidance to $7.20 – $7.30, reflecting a slight increase in sales and improved profitability.
Market Reaction and Outlook: Following the earnings report, 3M shares rose by 3.83% to $140.00, with investors encouraged by the company's positive adjustments in sales growth expectations and ongoing shareholder returns through dividends and repurchases.
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Analyst Views on MMM
Wall Street analysts forecast MMM stock price to fall
11 Analyst Rating
6 Buy
3 Hold
2 Sell
Moderate Buy
Current: 172.850
Low
100.00
Averages
152.00
High
184.00
Current: 172.850
Low
100.00
Averages
152.00
High
184.00
About MMM
3M Company is a diversified technology company. The Company is a manufacturer and marketer of a variety of products and services. The Company’s segments include Safety and Industrial; Transportation and Electronics, and Consumer. Its Safety and Industrial segment includes industrial abrasives and finishing for metalworking applications; autobody repair solutions; industrial specialty products, such as personal hygiene products, masking, and packaging materials, and others. Its Transportation and Electronics segment includes advanced ceramic solutions; attachment/bonding, films, sound and temperature management for transportation vehicles; premium large format graphic films for advertising and fleet signage. Its Consumer segment includes cleaning products for the home; consumer air quality products, and picture hanging accessories. Its brands include 3M Cubitron II abrasives, Scotch-Brite, Filtrete, Command, Scotchgard, Meguiar’s, Nexcare, Post-it and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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