3M

@GUHU 

Ich befürchte, dass das Problem nicht nur ein schlechtes Quartal war ...."cut" ... und daher die Reaktion vom 3M Management?

>>>>

".. When you go back through what has occurred at 3M over the past year, what becomes clear is that there has been a habitual habit of overpromising before underperforming and cutting guidance, with the management team being largely reactionary to shifts in the macro environment. 

Is it coincidental that this began just as Michael Roman became CEO, replacing Inge Thulin? That’s perhaps up for interpretation but we could see him eventually become collateral damage from these failures if problems continue to persist:

• First initial cut to 2018 guidance (Q2 2018 earnings release): Down to $10.33/share at the midpoint.
  
  
• Cut 2018 guidance yet again (pre Q4 2018 earnings release): $9.95/share at the midpoint.
  
  
• Full-year 2018 results in (Q4 2018 earnings release): misses the mid-point of cut guidance by a penny.
  
  
• Initial 2019 guidance given (November 2018 Investor Day): $10.88/share at the midpoint, up 9.5% year over year.
  
  
• First cut of 2019 guidance (Q4 2018 earnings release): $10.67/share at the midpoint.
  
  
• Second cut of 2019 guidance (Q1 2019 earnings release): $9.50/share at the midpoint.
  
  

Sensing a pattern here? ...  "

https://seekingalpha.com/article/4257855...oblems-new

Und jetzt stehen wir bei 170$. Erst kleine Position gekauft. Geht sicher noch weiter bergab.

3M (MMM) Tops Q2 Earnings and Revenue Estimates

3M (MMM) came out with quarterly earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.04 per share. This compares to earnings of $2.59 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 7.84%. A quarter ago, it was expected that this maker of Post-it notes, industrial coatings and ceramics would post earnings of $2.50 per share when it actually produced earnings of $2.23, delivering a surprise of -10.80%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

3M, which belongs to the Zacks Diversified Operations industry, posted revenues of $8.17 billion for the quarter ended June 2019, surpassing the Zacks Consensus Estimate by 1.87%. This compares to year-ago revenues of $8.39 billion.


...

https://finance.yahoo.com/news/3m-mmm-to...11582.html

Und jetzt stehen wir bei 170$. Erst kleine Position gekauft. Geht sicher noch weiter bergab.

gehalten und noch drin?

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%.


...

https://finance.yahoo.com/news/3m-mmm-be...02087.html

3m entlässt weiter! die nächste Runde!

Sieht auf dem Preisniveau aber echt lecker aus. Weiterhin eine Cashcow. FCF auf Allzeithoch. Nur 60% des FCF werden ausgeschüttet. Dividendenrendite auf Langzeithoch.

Kurzfristig in schwierigem Fahrwasser, langfristig aber durchaus ein solider Bulle. Man könnte erwägen zu den Preisen Positionen aufzubauen.

3M (MMM) Q4 Earnings and Revenues Lag Estimates

3M (MMM) came out with quarterly earnings of $1.95 per share, missing the Zacks Consensus Estimate of $2.10 per share. This compares to earnings of $2.31 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -7.14%. A quarter ago, it was expected that this maker of Post-it notes, industrial coatings and ceramics would post earnings of $2.47 per share when it actually produced earnings of $2.58, delivering a surprise of 4.45%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

3M, which belongs to the Zacks Diversified Operations industry, posted revenues of $8.11 billion for the quarter ended December 2019, missing the Zacks Consensus Estimate by 0.19%. This compares to year-ago revenues of $7.95 billion.


...

https://finance.yahoo.com/news/3m-mmm-q4...12532.html

Falls es unterging:

Am 24.02.2020 hat die S&P Ratingagentur 3M runtergestuft von AA- auf A+

"3M Downgraded To 'A+' On Continued End-Market Pressure, High Leverage; Outlook Negative

• 3M Co.'s end-market challenges, primarily stemming from continued weakness in China, automotive, and electronics, coupled with additional debt to finance its recent acquisition of Acelity L.P., will result in prolonged high leverage for the rating, in our view.
  
  
• Moreover, potential perfluoroalkoxy alkanes (PFAS) liabilities remain an overhang to the rating. We have not quantified potential reserves or settlements, but adverse events could significantly weaken the company's already stretched credit metrics.
  
  
• As a result, we are lowering our ratings on 3M, including our issuer-credit rating to 'A+' from 'AA-' and our short-term rating to 'A-1' from 'A-1+'. The rating outlook is negative.
  
  
• The negative outlook reflects the potential that we could lower the rating further if the company fails to improve its debt to EBITDA to below 2x and maintain free operating cash flow (FOCF) to debt above 25% over the next 12-24 months. This could occur if the company experiences further reserves or settlements over environmental or product liabilities, and/or if the company's underperforming end markets remain weak from muted global economic growth."
  

Quelle:
 https://www.standardandpoors.com/en_US/web/guest/home
per mail registrieren - sonst kein Zugang ... kostenfrei und ohne spams ...

Falls es unterging:

Am 24.02.2020 hat die S&P Ratingagentur 3M runtergestuft von AA- auf A+.

+ klingt doch irgendwie besser als - oder?