Seeking Alpha

More on 3M Q1: Net profit +7.1%

  • 3M (MMM) net profit increased to $1.21B from $1.13B a year earlier.
  • Organic local-currency sales growth +4.6%. Breakdown: Healthcare +6.2%, Industrial +4.9%, Safety & Graphics +4.6%, Electronics & Energy +4.1%, Consumer +2.6%; Asia Pacific +6.9%, Latin America/Canada +6.8%, EMEA +3.7%, U.S. +2.6%.
  • 3M maintains its outlook for FY EPS of $7.30-7.55 a share vs consensus of $7.46, and organic local-currency revenue growth of 3-6%; analysts expect overall sales to rise 4.8% to $32.35B.
  • Shares are -2.3% premarket following the Q1 EPS and revenue misses. (PR)
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