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3M (MMM) Q1 Earnings Came In Line With Estimates, Up Y/Y

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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 24, 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 3.2%. Currently, 3M has a Zacks Rank #4 (Sell), but that could definitely change following first-quarter 2018 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 reported EPS of $2.50, which came in line with the Zacks Consensus Estimate.

3M Company Price and EPS Surprise

3M Company Price and EPS Surprise | 3M Company Quote

Revenues: Revenues exceeded estimates. 3M posted revenues of $8,278 million, higher than the Zacks Consensus Estimate of $8,079 million.

Key Stats to Note: 3M revised its earlier guidance for 2018.Earnings are expected to be within $10.20 to $10.55 per share, compared to prior projections of $10.20–$10.70.Organic sales growth is expected to be 3–4%.

Stock Price: 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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