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3M Beats Q1 Earnings and Revenue Estimates

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3M (NYSE: MMM) came out with quarterly earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.08 per share. This compares to earnings of $1.97 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 14.90%. A quarter ago, it was expected that this maker of Post-it notes, industrial coatings and ceramics would post earnings of $2.31 per share when it actually produced earnings of $2.42, delivering a surprise of 4.76%.

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

3M, which belongs to the Zacks Diversified Operations industry, posted revenues of $8 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 4.71%. This compares to year-ago revenues of $8.03 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

3M shares …

Full story available on Benzinga.com

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