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3M (MMM) Q2 Earnings in Sync, 2016 Guidance Narrowed
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With operations spread across 70 countries worldwide, diversified technology firm 3M Company (MMM - Free Report) offers dynamic growth opportunities in a broad range of sectors with its flexible product lines. Over the years, 3M has initiated some prudent steps to focus on its core portfolio of businesses. Since 2012, the company has pruned its businesses from 40 to 26, thereby improving customer relevance, productivity and speed through a leaner operating structure. 3M also aims to continue investing in capital expenditures and research and development to support organic growth.
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.
3M has a fairly decent earnings surprise history. In the last four trailing quarters, 3M has managed to beat earnings on every occasion. Currently, 3M has a Zacks Rank #3 (Hold), but that could definitely change following the second-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: 3M reports in line earnings. The Zacks Consensus Estimate called for EPS of $2.08, and the company reported EPS of $2.08 as well.
Revenue: Revenues missed. 3M posted revenues of $7,662 million, compared with Zacks Consensus Estimate of $7,725 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. 3M narrowed its earnings guidance range for 2016 to $8.15 to $8.30 per share from $8.10 to $8.45 expected earlier.
Stock Price: 3M’s shares fell in pre-market trading following the release as investors probably expected a healthy beat. 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 3M earnings report later!
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3M (MMM) Q2 Earnings in Sync, 2016 Guidance Narrowed
With operations spread across 70 countries worldwide, diversified technology firm 3M Company (MMM - Free Report) offers dynamic growth opportunities in a broad range of sectors with its flexible product lines. Over the years, 3M has initiated some prudent steps to focus on its core portfolio of businesses. Since 2012, the company has pruned its businesses from 40 to 26, thereby improving customer relevance, productivity and speed through a leaner operating structure. 3M also aims to continue investing in capital expenditures and research and development to support organic growth.
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.
3M has a fairly decent earnings surprise history. In the last four trailing quarters, 3M has managed to beat earnings on every occasion. Currently, 3M has a Zacks Rank #3 (Hold), but that could definitely change following the second-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: 3M reports in line earnings. The Zacks Consensus Estimate called for EPS of $2.08, and the company reported EPS of $2.08 as well.
3M CO Price and EPS Surprise
3M CO Price and EPS Surprise | 3M CO Quote
Revenue: Revenues missed. 3M posted revenues of $7,662 million, compared with Zacks Consensus Estimate of $7,725 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. 3M narrowed its earnings guidance range for 2016 to $8.15 to $8.30 per share from $8.10 to $8.45 expected earlier.
Stock Price: 3M’s shares fell in pre-market trading following the release as investors probably expected a healthy beat. 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 3M 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 >>