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3M (MMM) Beats Q1 Earnings & Revenues, 2017 Guidance Up
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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 thrice for an average earnings surprise of 1.9%. Currently, 3M has a Zacks Rank #2 (Buy), but that could definitely change following the first-quarter 2017 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: 3M beats on earnings. The Zacks Consensus Estimate called for EPS of $2.07, and the company reported EPS of $2.16.
Revenues: Revenues exceed estimates. 3M posted revenues of $7,685 million, surpassing the Zacks Consensus Estimate of $7,515 million.
Key Stats to Note: On strong quarterly results and improved outlook, 3M increased its earlier guidance for 2017. Earnings are expected to be within $8.70 to $9.05 per share, up from prior projections of $8.45–$8.80. Organic sales are expected to improve 2–5%, up from 1–3% expected earlier.
Stock Price: 3M’s shares were up in pre-market trading following the release on healthy earnings beat and bullish guidance. 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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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3M (MMM) Beats Q1 Earnings & Revenues, 2017 Guidance Up
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 thrice for an average earnings surprise of 1.9%. Currently, 3M has a Zacks Rank #2 (Buy), but that could definitely change following the first-quarter 2017 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: 3M beats on earnings. The Zacks Consensus Estimate called for EPS of $2.07, and the company reported EPS of $2.16.
3M Company Price and EPS Surprise
3M Company Price and EPS Surprise | 3M Company Quote
Revenues: Revenues exceed estimates. 3M posted revenues of $7,685 million, surpassing the Zacks Consensus Estimate of $7,515 million.
Key Stats to Note: On strong quarterly results and improved outlook, 3M increased its earlier guidance for 2017. Earnings are expected to be within $8.70 to $9.05 per share, up from prior projections of $8.45–$8.80. Organic sales are expected to improve 2–5%, up from 1–3% expected earlier.
Stock Price: 3M’s shares were up in pre-market trading following the release on healthy earnings beat and bullish guidance. 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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>