From Financial Modeling Prep: 2024-10-21 02:00:03

3M Company, a diversified technology company, is set to release its quarterly earnings on October 22, 2024. Analysts estimate an EPS of $1.93 and revenue of $6.06 billion. The decline in revenue is attributed to the spin-off of 3M’s Health Care business. Despite challenges, 3M’s stock has rallied, becoming a top performer in the S&P 500 index.

The Zacks Consensus Estimate aligns with the EPS forecast of $1.93, a 28% decline from the previous year. Revenue is estimated at $6.1 billion, down 26.6% year over year due to the Health Care business spin-off. 3M’s stock price has surged over 105% this year but has stalled recently. Investors should prepare for potential impacts post-earnings release.

3M is expected to exceed earnings estimates, potentially influencing the stock price positively. Financial metrics show a high P/E ratio of 79.36, indicating market expectations for growth. The debt-to-equity ratio is 3.38, reflecting reliance on debt financing. The current ratio of 1.36 suggests adequate liquidity for short-term liabilities.



Read more at Financial Modeling Prep:: 3M Company (MMM) Quarterly Earnings Preview