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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 1.2%. Currently, 3M has a Zacks Rank #3 (Hold), but that could definitely change following third-quarter 2017 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 $2.21, and the company reported EPS of $2.33.
Revenues: Revenues exceeded estimates. 3M posted revenues of $8,172 million, higher than the Zacks Consensus Estimate of $7,908 million.
Key Stats to Note: 3M increased its earlier guidance for 2017 on favourable growth dynamics and strong organic growth across all segment and geographies. Earnings are expected to be within $9.00 to $9.10 per share, up from prior projections of $8.80–$9.05. Organic sales are expected to improve 4–5%, up from 3–5% expected earlier.
Stock Price: With healthy earnings beat and bullish guidance, 3M’s shares were up in pre-market trading 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 3M earnings report later!
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It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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3M (MMM) Beats Q3 Earnings & Revenues, Increases 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, 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 1.2%. Currently, 3M has a Zacks Rank #3 (Hold), but that could definitely change following third-quarter 2017 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 $2.21, and the company reported EPS of $2.33.
3M Company Price and EPS Surprise
3M Company Price and EPS Surprise | 3M Company Quote
Revenues: Revenues exceeded estimates. 3M posted revenues of $8,172 million, higher than the Zacks Consensus Estimate of $7,908 million.
Key Stats to Note: 3M increased its earlier guidance for 2017 on favourable growth dynamics and strong organic growth across all segment and geographies. Earnings are expected to be within $9.00 to $9.10 per share, up from prior projections of $8.80–$9.05. Organic sales are expected to improve 4–5%, up from 3–5% expected earlier.
Stock Price: With healthy earnings beat and bullish guidance, 3M’s shares were up in pre-market trading 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 3M earnings report later!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>