3M Company Q3 2024 Earnings Analysis: What Investors Need to Know
Tuesday, 22 October 2024, 15:33
3M Company Q3 2024 Earnings Overview
3M Company (NYSE: MMM), a leading manufacturer and distributor of industrial products, has reported its Q3 2024 earnings, showcasing a narrative of broadly flat revenues alongside a notable rise in adjusted profits. The third-quarter net sales reached $6.3 billion, which illustrates a 0.4% increase compared to the same quarter last year.
Key Financial Highlights
- Adjusted Sales: The company’s adjusted sales stood at $6.1 billion, marking a 1% organic growth year-over-year.
- Earnings Per Share (EPS): For Q3 2024, the EPS from continuing operations was $2.48, recovering from a loss of $4.56 per share in Q3 2023.
- Adjusted EPS Growth: Adjusted earnings climbed by 18% annually, reaching $1.98 per share.
- Cash Flow Metrics: The company reported an operating cash flow of (-)$1.8 billion; however, an adjusted free cash flow of $1.5 billion was generated in the September quarter.
- Guidance Revision: 3M has raised its full-year guidance for 2024, now estimating an EPS range of $7.20-$7.30, up from the previous outlook of $7.0-$7.30.
Implications for MMM Stock
Investors should evaluate how these earnings results, coupled with the company's upward revised guidance, might affect the MMM share price moving forward.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.