3M (MMM) Reports Earnings Tomorrow: What To Expect - The Chronicle-Journal
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Industrial conglomerate 3M ( NYSE: MMM ) will be announcing earnings results this Tuesday morning. Here's what to look for. 3M met analysts' revenue expectations last quarter, reporting revenues of $6.00 billion, up 3.9% year on year. It was a slower quarter for the company, with a slight miss of analysts' organic revenue estimates and full-year EPS guidance slightly missing analysts' expectations. Is 3M a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members. This quarter, the market is expecting 3M's revenue to grow 4% year on year, improving from the 2.3% increase it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. 3M rarely misses Wall Street's revenue estimates. Looking at 3M's peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 24.5%, beating analysts' expectations by 6%, and Worthington reported revenues up 16.9%, falling short of estimates by 4%. GE Aerospace traded down 3.2% following the results while Worthington's stock price was unchanged. Read our full analysis of GE Aerospace's results here and Worthington's results here...
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