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published in Blogs
Jan 26, 2022
3M (MMM, $173.77)beats Q4 earnings expectations

3M (MMM, $173.77)beats Q4 earnings expectations

3M posted fourth-quarter earnings of $2.31 per share, beating analysts’ expectations of $2.02 (based on poll).

 Revenue came in at $8.61 billion, vs.  analysts’ estimate of $8.6 billion.

The company’s free cash flow of $1.5 billion was also ahead of the $1.3 billion expected by the Street.

However, operating profit margins in the fourth quarter narrowed to 18.8%, from 21.5% in the fourth quarter of 2020. Supply-chain challenges and lower manufacturing volumes were the main factors behind this decrease, eroding about 2.4 percentage points of margins.

Related Tickers: MMM