3M (MMM) Q2 Earnings Top Views, Shares Trend Higher

Shares of 3M Co. (NYSE: MMM) are higher in pre-market trading on Thursday. The company reported Q2 EPS of $1.66, $0.01 better than the analyst estimate of $1.65. This is an increase of 3.8 percent versus the second quarter of 2011. Revenue for the quarter came in at $7.53 billion versus the consensus estimate of $7.79 billion. Revenue was $7.7 billion for the same quarter last year.

"Our team performed very well in the quarter, delivering excellent productivity and record second-quarter earnings," said Inge G. Thulin, 3M chairman, president and chief executive officer. "We achieved these results through outstanding factory efficiency and cost discipline throughout the organization."

Looking ahead, 3M maintained its full-year 2012 earnings expectations of $6.35 to $6.50 per share. The company anticipates full-year organic local-currency sales growth of 2 to 5 percent and that foreign currency translation will reduce sales by approximately 3 percent for the year. 3M expects operating income margins in the range of 21.5 to 22.5 percent for the year.

Shares of MMM last traded at $90.45, up 1.9 percent from the close.

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