3M (NYSE:MMM) Surprises With Q3 Sales
Industrial conglomerate 3M (NYSE:MMM) announced better-than-expected revenue in Q3 CY2024, but sales fell 21.5% year on year to $6.29 billion. Its non-GAAP profit of $1.98 per share was also 4.1% above analysts’ consensus estimates.
3M Q3 Earnings Preview
We estimate 3M’s valuation to be $117 per share, about 13% below its current price of $135. At its current levels, MMM stock is trading at 19x forward expected earnings of $7.21 in 2024. The 19x figure is higher than the stock’s average P/E ratio of 15x over the last three years.
3M Company (MMM) Q3 2024 Earnings Call Transcript
Q3 2024 Earnings Call October 22, 2024 9:00 AM ETCompany ParticipantsBruce Jermeland - Senior Vice President, Investor
3M Co. Q3 Earnings Summary
Earnings: $1.372 billion in Q3 vs. -$2.075 billion in the same period last year. EPS: $2.48 in Q3 vs. -$3.74 in the same period last year. Excluding items, 3M Co. reported adjusted earnings of $1.095 billion or $1.
3M (MMM) Q3 2024 Earnings Call Transcript
Welcome to the 3M third quarter earnings conference call. [Operator instructions] As a reminder, this call is being recorded Tuesday, October 22, 2024. I would now like to turn the call over to Bruce Jermeland,
Compared to Estimates, 3M (MMM) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2024, 3M (MMM) reported revenue of $6.29 billion, down 24.3% over the same period last year. EPS came in at $1.98, compared to $2.68 in the year-ago quarter. The reported revenue represents a surprise of +3.
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