Article Hero

3M posted weaker-than-expected earnings

1595947263.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 septiembre 2020
The conglomerate disappointed with its earnings

The American multinational conglomerate corporation, 3M, released its financial report. 

For Q2, the company posted weaker-than-expected earnings, as the pandemic impacted the profit and sales.

Its net income came in at $1.29 billion from last year’s $1.13 billion. The EPS rose to $2.22 from a previous $1.92. 

Even though the net income increased, sales missed the $7.32 billion consensus, dropping 12% to $7.18 billion. 

3M posted a revenue decline of 11.9% to $7.2 billion, missing the $7.32 billion forecast.

The company didn’t provide any further guidance as the future is uncertain due to the COVID-19 pandemic. 

After the report, the stock price fell by 2.2%. Since the beginning of the year, it lost 7.5%, while USA30 dropped by 6.9%. 

Visit CAPEX.com to find out more about the market!

Sources: marketwatch.com, thestreet.com

disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel comenzó su destacada carrera profesional en reputadas instituciones financieras como el Banco Santander y el Banco Central-Hispano. Es autor de importantes libros sobre trading en el mercado de divisas.