3M Posts $2.63 Q3 EPS, Lifts Full-Year Guidance
MMM sits 18% above its 52-week low of $139.34.
Summary
3M reported Q3 GAAP EPS of $2.63, with adjusted EPS at $2.50, up 12% year over year, on adjusted sales growth of 4.2%. The company also raised its full-year adjusted EPS guidance. That extends the pattern from Q2, when adjusted EPS of $2.40 rose 11% and management lifted the annual range to $8.80–$8.95. The quarter clears the bar set by the prior guide, and the raise implies management sees the margin recovery holding through year-end. This lands a day after the 8-K disclosing an expanded Amazon commercial deal and a warrant for up to 3.16 million shares at $164.89 — two positive items in two sessions.
At the time of this announcement, MMM was trading at $163.96 on NYSE in the Manufacturing sector, with a market capitalization of approximately $83.6B. The 52-week trading range was $139.34 to $184.90. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.