Earnings Preview: 3M Co.

3M (MMM) is expected to report Q3 earnings Tuesday Oct. 21 before market open, with a conference call scheduled for 9:00 am ET.

Guidance

Analysts are looking for EPS of $1.39 on revenue of $6.65B. The consensus range is $1.34 to $1.45 for EPS, and $6.48B to $6.73B for revenue, according to First Call.

Analyst Views

3M reiterated its FY08 EPS guidance with it reported its Q2 earnings results. The company expects FY08 EPS to increase 10% YoY. At a meeting on September 9, 3M chairman, president and CEO George Buckley told institutional investors and investment analysts that the company's strategy to innovate and invest in 3M's core is succeeding and delivering results. Buckley highlighted 3M ventures in markets such as solar energy, industrial air and water filtration, mining and minerals extraction, oil and gas, and food safety.

Goldman upgraded the company to Neutral from Sell on October 14, stating the firm sees limited downside to the company shares.