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3M (MMM) Beats on Q4 Earnings, Reiterates 2017 Guidance
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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 to early 2016, 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 thrice for an average earnings surprise of 4.6%. Currently, 3M has a Zacks Rank #3 (Hold), but that could definitely change following the fourth-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: 3M beats earnings. The Zacks Consensus Estimate called for EPS of $1.87, and the company reported EPS of $1.88.
Revenues: Revenues missed. 3M posted revenues of $7,329 million, missing the Zacks Consensus Estimate of $7,368 million.
Key Stats to Note: 3M reiterated its earlier guidance for 2017. Earnings are expected to be within $8.45–$8.80 per share, with organic sales growth of 1–3%.
Stock Price: 3M’s shares were relatively flat 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) Beats on Q4 Earnings, Reiterates 2017 Guidance
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 to early 2016, 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 thrice for an average earnings surprise of 4.6%. Currently, 3M has a Zacks Rank #3 (Hold), but that could definitely change following the fourth-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: 3M beats earnings. The Zacks Consensus Estimate called for EPS of $1.87, and the company reported EPS of $1.88.
3M Company Price and EPS Surprise
3M Company Price and EPS Surprise | 3M Company Quote
Revenues: Revenues missed. 3M posted revenues of $7,329 million, missing the Zacks Consensus Estimate of $7,368 million.
Key Stats to Note: 3M reiterated its earlier guidance for 2017. Earnings are expected to be within $8.45–$8.80 per share, with organic sales growth of 1–3%.
Stock Price: 3M’s shares were relatively flat 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!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>