3M (MMM) PT Lowered to $164 at RBC Capital
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3M Reports Third-Quarter 2019 Results
October 24, 2019 6:30 AM EDTThird-Quarter Highlights:
Sales of $8.0 billion, down 2.0 percent year-on-year Organic local-currency sales declined 1.3 percent year-on-year GAAP EPS of $2.72 vs. $2.58 last year, up 5.4 percent year-on-year Q3 2019 earnings include a $0.14 per share benefit from a divestiture gain Operating cash flow of $2.0 billion; free cash flow of $1.7 billion, with free cash flow conversion of 106 percent Returned $1.0 billion to shareholders via dividends and gross share repurchases Updates guidance to reflect market trends and Acelity, Inc. acquisitionST.... More

