From Financial Modeling Prep: 2024-10-22 16:02:00

3M Co. (NYSE:MMM) saw a 4% surge in shares after beating analyst expectations with third-quarter earnings and revenue. The company reported an EPS of $1.98, exceeding the estimated $1.90, with revenue hitting $6.1 billion, slightly above the projected $6.06 billion. Operating margin improved to 23% year-over-year.

Despite a negative operating cash flow of $1.8 billion, 3M showed strength with adjusted free cash flow of $1.5 billion. The company revised its full-year adjusted EPS forecast to $7.20 to $7.30, narrowing the previous outlook of $7 to $7.30. The consensus estimate was $7.30, showcasing continued operational efficiency.



Read more at Financial Modeling Prep:: 3M Reports Strong Q3 Earnings, But Narrows Outlook