3M Co. (MMM) Misses Q1 EPS by 26c; Lowers Outlook, Initiates Restructuring

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Go back to 3M Co. (MMM) Misses Q1 EPS by 26c; Lowers Outlook, Initiates Restructuring

3M Reports First-Quarter 2019 Results; Company Initiates Restructuring

April 25, 2019 6:30 AM EDT

First-Quarter Summary:

Sales of $7.9 billion, down 5.0 percent year-on-year Organic local-currency sales decline of 1.1 percent; China, automotive, and electronics collectively down mid-single digits GAAP EPS of $1.51 vs. $0.98 last year, up 54.1 percent year-on-year Adjusted EPS of $2.23 vs. $2.50 last year, down 10.8 percent year-on-year

Q1 2019 excludes significant litigation-related charges of $0.72 per share Q1 2018 excludes a total charge of $1.52 per share for adjustments to provisional accounting for the Tax Cuts and Jobs Act (TCJA) and significant litigation-related charges... More