3M Third Quarter 2024 Earnings: Beats Expectations

3M (NYSE:MMM) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$6.29b (down 24% from 3Q 2023).
• Net income: US$1.37b (up from US$2.08b loss in 3Q 2023).
• Profit margin: 22% (up from net loss in 3Q 2023).
• EPS: US$2.49 (up from US$3.74 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

3M Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 28%.

Looking ahead, revenue is expected to decline by 5.3% p.a. on average during the next 3 years, while revenues in the Industrials industry in North America are expected to grow by 2.4%.

Performance of the market in the US.

The company's shares are down 2.9% from a week ago.

Risk Analysis

We should say that we've discovered 4 warning signs for 3M (3 are a bit unpleasant!) that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.