3M (MMM) reported earnings on Tue 27 Oct 20 (b/o)

 ** charts after earnings **

 

3M beats by $0.16, reports revs in-line; no FY20 guidance

Reports Q3 (Sep) earnings of $2.43 per share, excluding non-recurring items, $0.16 better than the S&P Capital IQ Consensus of $2.27; revenues rose 4.5% year/year to $8.35 bln vs the $8.38 bln S&P Capital IQ Consensus.

Due to the continued evolving and uncertain impact of the COVID-19 pandemic, 3M is not able to estimate the full duration, magnitude and pace of recovery across its diverse end markets with reasonable accuracy. Therefore, 3M continues to believe it is prudent to not provide guidance.

The company estimates total sales for October to be flat to up low-single digits year-on-year. This estimate includes the anticipated impact of one fewer business day in October 2020 versus October 2019.