3M's (MMM, $180.14) Q2 earnings surpass analysts' estimates, despite year-over-year decline
3M Co. reported second quarter earnings that beat analysts’ expectations. The company also affirmed its full-year profit guidance.
The industrial conglomerate’s adjusted earnings for three months ending June came in at $2.20 per share, which is higher than the Street consensus estimate of $2.04 per share.
The company’s total revenue fell -2.6% from last year to $8.2 billion, but exceeded analysts' expectations of an $8.02 billion.
In April, 3M decided to slash 2,000 jobs, as weakening demand in automotive and electronics sectors in China apparently propelled the company to cut production.
Looking ahead, 3M projects its full-year adjusted earnings in the range of $9.25 to $9.75 per share, thereby maintaining its prior forecast. GAAP earnings, however, are expected by the company to be in the range of $8.25 to $8.75 per share, down from a prior projection of $8.53 to $9.03 per share, due to a 28 cent charge related to the de-consolidation of its Venezuelan subsidiary.
MMM's RSI Indicator ascending out of oversold territory
The RSI Indicator for MMM moved out of oversold territory on April 09, 2025. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 32 similar instances when the indicator left oversold territory. In of the 32 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on April 22, 2025. You may want to consider a long position or call options on MMM as a result. In of 88 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for MMM just turned positive on April 23, 2025. Looking at past instances where MMM's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MMM advanced for three days, in of 310 cases, the price rose further within the following month. The odds of a continued upward trend are .
MMM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 58 cases where MMM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The 10-day moving average for MMM crossed bearishly below the 50-day moving average on April 03, 2025. This indicates that the trend has shifted lower and could be considered a sell signal. In of 20 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MMM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for MMM entered a downward trend on April 07, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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