3M Co. (MMM) Tops Q1 EPS by 10c; Raises Outlook

3M Co. (NYSE: MMM) reported Q1 EPS of $2.16, $0.10 better than the analyst estimate of $2.06. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.47 billion.

GUIDANCE:

3M Co. sees FY2017 EPS of $8.70-$9.05, up from prior expectation of $8.45 to $8.80 and versus the consensus of $8.63.

• Sales of $7.7 billion, up 3.7 percent; organic local-currency growth of 4.6 percent
• GAAP EPS of $2.16, up 5.4 percent year-on-year
• GAAP operating income margins of 23.1 percent, down 100 basis points; includes $136 million, or 180 basis point impact from strategic investments
• Returned $1.4 billion to shareholders via dividends and gross share repurchases
• Announced pending acquisition of Scott Safety, a premier safety solutions company

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

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