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3M (MMM) Beats Q3 Earnings Estimates, Lowers '19 Projections
3M Company MMM reported better-than-expected results for the third quarter of 2019, with earnings surpassing estimates by 4.5%. This is the second consecutive quarter of better-than-expected results.
Its adjusted earnings in the reported quarter were $2.58 per share. The figure surpassed the Zacks Consensus Estimate of $2.47. However, its bottom line was in line with the year-ago quarter figure.
Weak Organic Sales, Divestitures and Forex Woes Hurt Revenues
In the quarter under review, 3M’s net sales were $7,991 million, reflecting a decline of 2% from the year-ago quarter. Results were adversely impacted by a 1.3% decrease in organic sales (results in automotive and electronics businesses as well as China end-markets were soft in the quarter), 0.3% negative impact of divestitures and 1.3% adverse impact of foreign currency translation, partially offset by 0.9% gain from acquisitions.
Also, the company’s net sales lagged the Zacks Consensus Estimate of $8,098 million by 1.3%.
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https://finance.yahoo.com/news/3m-mmm-be...02087.html
![[Bild: MMMc1dl1458.png]](https://finviz.com/publish/102419/MMMc1dl1458.png)
3M Company MMM reported better-than-expected results for the third quarter of 2019, with earnings surpassing estimates by 4.5%. This is the second consecutive quarter of better-than-expected results.
Its adjusted earnings in the reported quarter were $2.58 per share. The figure surpassed the Zacks Consensus Estimate of $2.47. However, its bottom line was in line with the year-ago quarter figure.
Weak Organic Sales, Divestitures and Forex Woes Hurt Revenues
In the quarter under review, 3M’s net sales were $7,991 million, reflecting a decline of 2% from the year-ago quarter. Results were adversely impacted by a 1.3% decrease in organic sales (results in automotive and electronics businesses as well as China end-markets were soft in the quarter), 0.3% negative impact of divestitures and 1.3% adverse impact of foreign currency translation, partially offset by 0.9% gain from acquisitions.
Also, the company’s net sales lagged the Zacks Consensus Estimate of $8,098 million by 1.3%.
...
https://finance.yahoo.com/news/3m-mmm-be...02087.html
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