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10/19/21

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3M Co.
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$

182.60

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Volume 48,249

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/zigman2/quotes/205029460/composite

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$ 181.72

$ 182.31

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2:51 a.m. July 27, 2021 - By Ciara Linnane
3M tops earnings estimates and raises guidance3M Co. said Tuesday it had net income of $1.524 billion, or $2.59 a share, in the second quarter, up from $1.306 billion, or $2.25 a share, in the year-earlier period. Adjusted per-share earnings were also $2.59, ahead of the $2.28 FactSet consensus. The diversified industrial company and maker of Post-It notes said sales rose to $8.950 billion from $7.176 billion, also ahead of the $8.525 billion FactSet consensus. The company is now expecting full-year sales to grow 7% to 10%, up from prior guidance of 5% to 8%. It expects per-share earnings to range from $9.70 to $10.10, against prior guidance of $9.20 to $9.70. Shares were up 0.8% premarket and have gained 15.4% in the year to date, while the S&P 500 has gained 17.7%.
10:31 a.m. April 27, 2021 - By Tomi Kilgore
3M stock drops despite earnings beat, as cost inflation seen taking a bigger bite out of profitsShares of 3M Co. sank 2.4% in afternoon trading, enough to pace the Dow Jones Industrial Average's decliners, even as the consumer, health care and industrial products company . The stock's $4.81 price decline was shaving about 32 points off the Dow's price, while the Dow was up 7 points, or less than 0.1%. Investors may be concerned about 3M's comments regarding the expected negative impact that will have on earnings this year. In the first quarter, Chief Financial Officer Monish Patolawala said 3M experienced increasing costs, particularly for raw materials and logistics, due primarily to the stronger demand, the ongoing COVID-19 pandemic and Winter Storm Uri. "In our view, we expect global supply chain dynamics to remain fluid and for raw material and logistics headwinds to persist," Patolawala said, according to a FactSet transcript of the post-earnings conference call with analysts. "Therefore, we now anticipate a full-year raw materials and logistics headwind of 30 cents-to-50 cents per share versus a prior expectation of flat to a 10-cent headwind at the start of the year."
2:41 a.m. April 27, 2021 - By Tomi Kilgore
3M stock climbs after profit beats, and all 4 business segments top revenue forecastsShares of 3M Co. climbed 1.5% toward a two-year high in premarket trading Tuesday, after the consumer, health care and industrial products company, which makes Post-it Notes and N95 face masks, reported first-quarter profit and revenue that beat expectations, and affirmed its full-year outlook. Net income increased to $1.62 billion, or $2.77 a share, from $1.31 billion, or $2.27 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.77 was well above the FactSet consensus of $2.29 a share. Sales rose 9.6% to $8.85 billion, beating the FactSet consensus of $8.44 billion. Health care sales rose 6.8% to $2.2 billion, above the FactSet consensus of $2.17 billion; safety and industrial sales grew 13.7% to $3.3 billion, topping expectations of $3.19 billion; consumer sales increased 9.8% to $1.4 billion, above expectations of $1.34 billion; and transportation and electronics sales rose 13.1% to $2.5 billion, compared with expectations of $2.32 billion. "Our four industry-leading businesses are delivering strong results, while we accelerate 3M's digital transformation and sustainability efforts with significant new goals to improve air and water quality," said Chief Executive Mike Roman. For 2021, 3M affirmed its EPS guidance range $9.20 to $9.70 and its sales growth outlook of positive growth of 5% to 8%. The stock has climbed 7.0% over the past three months through Monday, while the Dow Jones Industrial Average has gained 12.1%.
2:41 a.m. Jan. 26, 2021 - By Ciara Linnane
Post-It maker 3M posts better-than-expected fourth-quarter earnings3M Co. shares rose 2% in premarket trade Tuesday, after the diversified industrial manufacturer and Post-it maker posted better-than-expected fourth-quarter earnings. 3M said it had a net profit of $1.389 billion, or $2.38 a share, in the quarter, up from $969 million, or $1.66 a share, in the year-earlier period. Sales rose to $8.583 billion from $8.111 billion. The FactSet consensus was for EPS of $2.15 and sales of $8.400 billion. The company benefited from demand for personal protective equipment, general cleaning, data center and biopharma filtration, it said in a statement. "Throughout 2020 we distributed two billion respirators globally and supported the development and manufacturing of vaccines and therapeutics to help the world respond to COVID-19," Chief Executive Mike Roman said in the statement. For 2021, 3M is expecting EPS of $9.20 to $9.70, compared with a FactSet consensus of $9.50. It expects sales to grow 5% to 8%. Shares have fallen 4% in the last 12 months, while the Dow Jones Industrial Average has gained 7%.
2:38 a.m. Dec. 14, 2020 - By Tomi Kilgore
3M provides sales guidance range in line with expectations3M Co. said Monday that total sales for the month of November rose 8% from a year ago to $2.9 billion. The consumer, health care and industrial products company, which makes Post-it Notes and N95 face masks, said sales in both its safety and industrial and consumer businesses grew 16%, health care sales rose 5% and transportation and electronics sales increased 3%. The company said that "although significant macroeconomic uncertainty remains," it expects fourth-quarter sales of $8.2 billion to $8.4 billion, which surrounds the FactSet consensus of $8.27 billion. The stock, which slipped 0.7% in premarket trading, has lost 1.4% year to date through Friday, while the Dow Jones Industrial Average has gained 5.3%.
2:38 a.m. Nov. 13, 2020 - By Ciara Linnane
Post-It maker 3M October sales rose 3% to $2.9 billionPost-it maker and diversified industrial company 3M Co. said Friday sales rose 3% in October to $2.9 billion. In the company's health care division, sales rose 12%, while consumer sales rose 7%, safety and industrial sales were up 4% and transportation and electronics sales fell 4%. Geographically, sales rose 3% in Asia Pacific and were up 2% in EMEA and the Americas. Shares rose 0.4% premarket, but are down 5.3% in the year to date, while the Dow Jones Industrial Average has gained 1.9% and the S&P 500 has gained 9.5%.
1:14 p.m. Oct. 30, 2020 - By Philip van Doorn
These are the worst-performing stocks in October as Big Tech slumps The information technology sector fell over 5% for the month, the biggest drop for any industryThe information technology sector fell over 5% for the month, the biggest drop for any industry.
2:17 a.m. Oct. 28, 2020 - By Ciara Linnane
Coronavirus update: U.S. case tally tops 8.7 million and marks seven-day record, with more than 20 states seeing most new cases since start of the outbreak Dr. Birx says North Dakotans’ failure to wear face masks is ‘deeply unfortunate’ as the Dakotas suffer worst case numbers measured per capitaThe U.S. case tally for the coronavirus illness COVID-19 climbed above 8.7 million on Tuesday, with more than 20 states counting record numbers of new infections, as more business curfews were announced to combat the spread.
2:45 a.m. Oct. 27, 2020 - By Tomi Kilgore
3M's stock ticks up after profit beats expectations, sales rise just above forecastsShares of 3M Co. edged up less than 0.1% in premarket trading Tuesday, after the consumer, health care and industrial products company reported third-quarter profit that beat expectations, while sales rose just above forecasts, helped by a surge in health care sales. Net income fell to $1.41 billion, or $2.43 a share, from $1.58 billion, or $2.72 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $2.43, above the FactSet consensus of $2.26. Sales rose 4.5% to $8.35 billion, above the FactSet consensus of $8.31 billion. Health care sales rose 25.5% to $2.2 billion, beating the FactSet consensus of $2.06 billion; safety and industrial sales grew 6.9% to $3.0 billion to top expectations of $2.95 billion; and consumer sales grew 5.6% to $1.4 billion, in line with expectations of $1.37 billion; while transportation and electronics sales fell 7.4% to $2.3 billion to fall shy of expectations of $2.35 billion. The company didn't provide full financial guidance given uncertainties related to the COVID-19 pandemic, but said October sales are expected to be in the flat to up low-single digits percentage range from a year ago. The stock has lost 5.8% year to date through Monday, while the Dow Jones Industrial Average has slipped 3.0%.
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