Markets
MMM

3M Co. (MMM) Beats on Q3 Earnings

With operations spread across 70 countries worldwide, diversified technology firm 3M Company MMM offers dynamic growth opportunities in a broad range of sectors with its flexible product lines. Portfolio management, investment in innovation and business transformation are the three key levers on which the company intends to focus moving forward. 3M also aims to continue investing in capital expenditures and research and development to support organic growth as it aims a capital structure strategy and increased capital deployment.

However, given its international presence, adverse foreign currency translations are likely to affect the company's ability to realize projected growth rates in its sales and earnings. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company's latest earnings report.

Also, MMM has a bumpy earnings surprise history. In the four trailing quarters, MMM has managed to beat earnings only once. Currently, MMM has a Zacks Rank #3 (Hold), but that could definitely change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings : MMM beat on earnings. Our consensus called for EPS of $2.01, and the company reported EPS of $2.05.

Revenue : Revenues missed. MMM posted revenues of $7,712 million, compared to our consensus estimate of $7,895 million.

Key Stats to Note : 3M continues to take actions to strengthen its portfolio, increase its scientific edge through research and development and transform its business processes through a new global ERP system. Also, 3M announced a restructuring plan that will result in an expected reduction of 1,500 positions globally with estimated pre-tax savings of $130 million in 2016.

Stock Price : MMM's shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today

Check back our full write up on this MMM earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

3M CO (MMM): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MMM

Other Topics

Earnings Investing Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More