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.
Aroon Indicator for MMM shows an upward move is likely
MMM's Aroon Indicator triggered a bullish signal on February 11, 2025. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 229 similar instances where the Aroon Indicator showed a similar pattern. In of the 229 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on March 18, 2025. You may want to consider a long position or call options on MMM as a result. In of 87 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 March 17, 2025. Looking at past instances where MMM's MACD turned positive, the stock continued to rise in of 48 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 309 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The 10-day RSI Indicator for MMM moved out of overbought territory on March 03, 2025. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator moved out of overbought territory. In of the 33 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
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 .
MMM broke above its upper Bollinger Band on February 28, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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