3M Q3 figures top estimates

By: Miguel A. Rodriguez

14:19, 28 October 2020

Better-than-expected earnings and sales for 3M

The Minnesota Mining and Manufacturing Company, or as it is commonly known, 3M reported its #Q3 figures.

3M quarterly results topped expectations, as the demand for personal-safety and health equipment sales increased. The revenue figures came in at $8.35 billion, above the $8.32 billion consensus. The EPS also topped the $2.26 estimate, as it came in at $2.43.

Following the positive pattern set, the company stated that the safety and industrial division's sales gained 6.9% to $3 billion. The results came above the $2.93 billion forecasted.

For the medical solutions, separation and purification, and the oral-care equipment segments, the market was looking for sales figures of $1.36 billion. The actual numbers reached $2.2 billion.

Regardless of the promising results, 3M stock price fell 1.5%. Since the beginning of the year, the company’s stock price lost more than 5%, while USA500 went up 5.3%.

Read more about how other companies have performed in the past quarter here!

Sources: cnbc.com, thestreet.com

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