Yesterday, 9:19 AM
- 3M (NYSE:MMM) -3.2% premarket after Q1 earnings and revenues fail to meet expectations, and the company cut its 2015 profit outlook, due to the impact of the stronger U.S. dollar.
- After foreign currency impacts reduced Q1 pre-tax earnings by ~$90M, or the equivalent of $0.10/share, 3M now expects foreign currency impacts to reduce FY 2015 EPS by $0.35-$0.40, compared with its previous guidance for a $0.20 hit; the company now sees FY 2015 EPS of $7.80-$8.10.
- As for 2015 revenue, 3M now expects it to fall by 6%-7% Y/Y, worse than its previous forecast of a 4%-5%; analysts had expected FY 2015 revenue to rise less than 1% to $32B.
- 3M maintains its forecast for organic local currency sales growth of 3%-6%.
- Q1 sales slipped in most of 3M's business units, falling 4.3% to $2.7B at its industrial unit, 3.6% to $1.4B in its safety and graphics business, 3.3% to $1.3B in its health care unit, and 2.9% to $1B at its consumer unit; only the company's electronics and energy unit reported a sales increase, rising less than 1% to $1.3B.
Yesterday, 7:31 AM
Wed, Apr. 22, 5:30 PM
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Tue, Jan. 27, 8:28 AM
- Net income of $1.18B, or $1.81 per share, vs. $1.10B, or $1.62 per share, a year ago.
- While profit for the quarter narrowly beat analysts’ expectations, revenue fell shy at $7.72B, below an estimate of $7.77B.
- Revenue by segment: Industrial +1.4%; Electronics and Energy +3.3%; Safety and Graphics +3.4%; Health Care +2.4%; Consumer +2.2%.
- The company affirmed its 2015 outlook and expects full-year earnings to be in the range of $8.00-$8.30 per share with organic local-currency sales growth of 3%-6%.
- MMM -1.8% premarket
- Q4 results
Tue, Jan. 27, 7:31 AM
Mon, Jan. 26, 5:30 PM
Wed, Jan. 21, 7:11 AM
Dec. 16, 2014, 7:05 AM
- After raising its dividend for the first quarter by 20%, 3M (NYSE:MMM) announces that it expects organic sales to rise 3%-6% in 2015, excluding the effect of foreign exchange rates.
- The company also forecasts 2015 earnings of $8.00-$8.30 per share. Analysts on an average are expecting $8.20 per share on revenue of $33.1B.
- Further guidance will be provided on a 2015 Outlook Conference Call at 8:00 a.m. ET.
Oct. 23, 2014, 8:55 AM
- Net income of $1.3B, or $1.98 per share, vs. $1.23B, or $1.78 per share, in the same quarter a year ago.
- Revenue by segment: Industrial +3%; Electronics and Energy +3.5%; Safety and Graphics +1.3%; Health Care +4.7%; Consumer +2.1%.
- Repurchased $1.2B of its own shares during the quarter.
- The company expects earnings in the range of $7.40-$7.50 per share vs. a prior expectation of $7.30-$7.55.
- Q3 results
- MMM +2.5% premarket
Oct. 23, 2014, 7:33 AM
Jul. 24, 2014, 9:10 AM
- 3M (NYSE:MMM) reported a Q2 profit of $1.27B, or $1.91 per share, up from $1.20B, or $1.71 a share Y/Y. Operating income improved across all of its segments boosting the 5.8% earnings increase.
- Operating income was $1.9B and rose 2.4% in the company's industrial division, 4.1% in health care, 23% in electronics and energy, 7.4% in safety and graphics, and 2.3% in consumer products.
- Operating income margins were up 0.8 percentage points Y/Y to 22.8%.
- The company converted 103% of the $1.3B in net income to free cash flow during the quarter.
- 3M paid $556M in cash dividends to shareholders and repurchased $1.4B of its own shares during the quarter.
- Q2 earnings
- MMM +1% premarket
Jul. 24, 2014, 7:35 AM
Apr. 24, 2014, 9:08 AM
- 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)
Apr. 24, 2014, 7:32 AM
Jan. 30, 2014, 9:49 AM
- 3M (MMM -2.7%) net profit +11% to $1.1B as sales increase across all of 3M's segments and geographies.
- Organic local-currency sales +3.4%. Segment breakdown: electronics & energy +0.4%, industrial +5.8%, safety & graphics +4.8%, healthcare +3.6%, consumer +1.3%.
- Organic local-currency sales geographic breakdown: U.S. +4.5%, EMEA +3.4%, Latin America/Canada +2.2%, Asia-Pacific +3.3%
- Free cash flow conversion 131%.
- Affirms 2014 guidance: EPS $7.30-7.55 vs consensus of $7.47, with organic local-currency sales growth of 3-6%; free cash-flow conversion 90-100%. (PR)
Jan. 30, 2014, 7:31 AM
MMM vs. ETF Alternatives
3M Co is a diversified technology company. Its operating segments are Industrial; Safety and Graphics; Electronics and Energy; Health Care; and Consumer segment. Its products include vinyl, polyester, foil and among others.
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