3M Co. (MMM) Misses Q3 EPS by 14c, Revenues Miss; Lowers FY18 EPS Outlook, Cash Flow and Growth Guidance

October 23, 2018 7:33 AM

3M Co. (NYSE: MMM) reported Q3 EPS of $2.58, $0.14 worse than the analyst estimate of $2.72. Revenue for the quarter came in at $8.2 billion versus the consensus estimate of $8.43 billion.

“In the third quarter, 3M delivered a double-digit increase in cash flow and earnings-per-share, along with strong margins despite slower growth,” said Mike Roman, 3M chief executive officer. “We also continued to deploy capital to invest in our future and return cash to our shareholders.

“Through nine months of the year, our global team posted organic growth of more than 3 percent, and we are positioned to deliver a solid 2018,” Roman continued. “Going forward, we remain focused on innovating for our customers and driving growth, while continuing to transform our enterprise.”

GUIDANCE:

3M Co. sees FY2018 EPS of $9.90-$10.00, versus the consensus of $10.28.

For earnings history and earnings-related data on 3M Co. (MMM) click here.

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