3M Co. reported fourth quarter earnings that fell short of analysts’ expectations.
The conglomerate’s adjusted earnings for the quarter came in at $1.95 per share, compared to the Street estimate of $2.10 per share. The figure was also -15.6% lower than the year-ago level.
Revenue fell -1.9% year-over-year to $8.1 billion in the quarter, in line with analysts' estimates.
Industrial and safety sales declined -4.8% from the same quarter a year ago; and transportation and electronics revenues fell - 6.2% year-over-year for the quarter. But health care revenues surged + 25.4%
Looking ahead, 3M expects full-year 2020 organic, local-currency sales growth to be in the range of flat to +2%, and reported earnings of between $9.30 and $9.75 per share.
MMM saw its Momentum Indicator move above the 0 level on August 15, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 89 similar instances where the indicator turned positive. In of the 89 cases, the stock moved higher in the following days. The odds of a move higher are at .
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