3M Reports Q2 Earnings Beat

3M MMM reported second-quarter earnings of $2.20 per share, which beat the analyst consensus estimate of $2.06 by 6.8%. This is a 15.06% decrease over earnings of $2.59 per share from the same period last year.

The company reported quarterly sales of $8.171 billion, which beat the analyst consensus estimate of $8.03 billion by 1.76%. This is a 2.61% decrease over sales of $8.39 billion the same period last year.

"I am encouraged by our company's progress and performance in the second quarter," said Mike Roman, 3M CEO. "Our execution was strong in the face of continued slow growth conditions in key end markets, as we effectively managed costs and improved cash flow. Moving ahead we remain focused on continuing to drive operational improvements, investing for the future and delivering for our customers and shareholders."

3M shares are trading up 5% at $187.60 in Thursday’s pre-market session. The stock has a 52-week high of $219.75 and a 52-week low of $159.32.

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