3M Lifts Full-Year Profit Forecast Amid Robust US Industrial Activity
- Reports
- 3
- Developments
- 1
- Repetition
- 67%
New informationRepeats or wire copies
What happened
3M raised its full-year adjusted profit forecast to between $9.10 and $9.15, up from a prior forecast of $8.80 to $8.95. The company reported adjusted quarterly revenue of $6.6 billion, which was up 4.2%, and quarterly adjusted profit of $2.50 per share. Shares of 3M were up 2.7% before the bell.
From aol.com, indiatimes.com
Why it matters
The profit increase was supported by higher prices and cost-control initiatives, while robust industrial activity in the US helped offset uneven demand in some markets. Growth in chipmaking machines and materials provided a positive trend for 3M's Transportation and Electronics business.
From aol.com, indiatimes.com
Who's involved
- 3MAmerican multinational corporation that lifted its profit forecast
- William BrownCEO of 3M, who has focused on improving operational execution
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- 3MSpeculative
3M could see increased sales demand and revenue growth tied to semiconductor-related markets
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Saint Paul
capital of the state of Minnesota, United States; county seat of Ramsey County, Minnesota
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William Brown
researcher ORCID ID = 0000-0001-9045-9787
Nothing else this week.