Better-than-expected earnings and sales for 3M
The Minnesota Mining and Manufacturing Company, or as it is commonly known, 3M reported its #Q3 figures.
3M quarterly results topped expectations, as the demand for personal-safety and health equipment sales increased. The revenue figures came in at $8.35 billion, above the $8.32 billion consensus. The EPS also topped the $2.26 estimate, as it came in at $2.43.
Following the positive pattern set, the company stated that the safety and industrial division's sales gained 6.9% to $3 billion. The results came above the $2.93 billion forecasted.
For the medical solutions, separation and purification, and the oral-care equipment segments, the market was looking for sales figures of $1.36 billion. The actual numbers reached $2.2 billion.
Regardless of the promising results, 3M stock price fell 1.5%. Since the beginning of the year, the company’s stock price lost more than 5%, while USA500 went up 5.3%.
Read more about how other companies have performed in the past quarter here!
Sources: cnbc.com, thestreet.com
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com
JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.
