3M: 4Q Earnings Snapshot
ST PAUL, Minn. (AP) _ 3M Co. (MMM) on Tuesday reported fourth-quarter net income of $1.35 billion.
The St Paul, Minnesota-based company said it had profit of $2.27 per share. Earnings, adjusted for pretax expenses, were $2.31 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The maker of Post-it notes, industrial coatings and ceramics posted revenue of $7.95 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $7.94 billion.
3M expects full-year earnings to be $10.45 to $10.90 per share.
3M shares have climbed slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5.5 percent. The stock has fallen 25 percent in the last 12 months.