real-time news and commentary for investors
Thursday, Oct 24
3M beats, raises low-end of EPS guidance, narrows range for sales growth outlook
- 3M (MMM) beats, as revenue hits an all-time high of $7.9B — EPS of $1.78 is a Q3 record.
- Organic sales growth by segment: Safety and Graphics, 8.1% (double-digit growth in roofing granules and personal safety); Healthcare, 6.8% (double-digit growth in food safety and health information systems); Industrial, 6.2% (all businesses saw sales growth); Consumer, 4.2% (strength in consumer health care, home care, stationery and office supplies); Electronics and Energy, 3.8%.
- FY13 outlook: $6.65-6.75/share (versus previous guidance of $6.60-6.85/share) on organic local-currency sales growth of 3 to 4%. (PR)