3M: Q2 Earnings Insights

Shares of 3M MMM rose 0.2% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 45.51% year over year to $2.59, which beat the estimate of $2.26.

Revenue of $8,950,000,000 rose by 24.72% from the same period last year, which beat the estimate of $8,550,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $9.70 and $10.10.

The upcoming fiscal year's revenue expected to be between $34,437,000,000 and $35,402,000,000.

Recent Stock Performance

52-week high: $208.95

Company's 52-week low was at $148.80

Price action over last quarter: Up 3.10%

Company Profile

3M is a multinational conglomerate that has operated since 1902 when it was known as Minnesota Mining and Manufacturing. The company is well-known for its research and development laboratory, and the firm leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of the firm's net sales. Many of the company's 60,000-plus products touch and concern a variety of consumers and end markets.