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Compared to Estimates, 3M (MMM) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2024, 3M (MMM - Free Report) reported revenue of $6.29 billion, down 24.3% over the same period last year. EPS came in at $1.98, compared to $2.68 in the year-ago quarter.
The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $6.1 billion. With the consensus EPS estimate being $1.93, the EPS surprise was +2.59%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how 3M performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Safety and Industrial: $2.77 billion compared to the $2.79 billion average estimate based on two analysts. The reported number represents a change of +0.6% year over year.
Net Sales- Corporate and Unallocated: $81 million compared to the $74.75 million average estimate based on two analysts. The reported number represents a change of +3950% year over year.
Net Sales- Consumer: $1.30 billion compared to the $1.31 billion average estimate based on two analysts. The reported number represents a change of -1.2% year over year.
Net Sales- Transportation and Electronics: $2.77 billion versus $1.92 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +27.5% change.
Operating Income (non-GAAP measures)- Consumer: $263 million versus $245.47 million estimated by two analysts on average.
Shares of 3M have returned -0.6% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, 3M (MMM) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, 3M (MMM - Free Report) reported revenue of $6.29 billion, down 24.3% over the same period last year. EPS came in at $1.98, compared to $2.68 in the year-ago quarter.
The reported revenue represents a surprise of +3.18% over the Zacks Consensus Estimate of $6.1 billion. With the consensus EPS estimate being $1.93, the EPS surprise was +2.59%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how 3M performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Safety and Industrial: $2.77 billion compared to the $2.79 billion average estimate based on two analysts. The reported number represents a change of +0.6% year over year.
- Net Sales- Corporate and Unallocated: $81 million compared to the $74.75 million average estimate based on two analysts. The reported number represents a change of +3950% year over year.
- Net Sales- Consumer: $1.30 billion compared to the $1.31 billion average estimate based on two analysts. The reported number represents a change of -1.2% year over year.
- Net Sales- Transportation and Electronics: $2.77 billion versus $1.92 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +27.5% change.
- Operating Income (non-GAAP measures)- Consumer: $263 million versus $245.47 million estimated by two analysts on average.
View all Key Company Metrics for 3M here>>>Shares of 3M have returned -0.6% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.