3M Co. (NYSE:MMM) stock rose in Tuesday’s premarket trading after the company reported strong third-quarter results.
Adjusted earnings beat Wall Street estimates, while revenue narrowly missed expectations. The industrial conglomerate also raised its full-year earnings guidance for the second straight quarter, citing stronger operating performance and productivity gains.
39. 61 billion consensus estimate.
3% from a year earlier. 2% under the company’s new reporting basis.
2 billion in adjusted free cash flow. It also returned $600 million to shareholders through dividends and share repurchases.
See More: Top Value Stocks CEO Highlights Productivity Gains And Innovation CEO William Brown attributed the strong quarter to higher sales, expanding margins, double-digit earnings growth and solid free cash flow. He said ongoing structural changes are improving productivity, while a stronger pipeline of differentiated technologies supports 3M’s long-term growth and margin outlook.
95. 94 consensus estimate.
45 billion. 5%.
8 billion. 80 during premarket trading on Tuesday, according to Benzinga Pro data.
