3M's stock surges after profit and sales fall less than expected, guidance holds
Shares of 3M Co. MMM, +1.07% surged 3.4% in premarket trading Thursday, after the consumer, health care and industrial products company reported a second-quarter profit and sales that fell less than expected, while maintaining its full-year outlook. Net income fell to $1.13 billion, or $1.92 a share, from $1.86 billion, or $3.07 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS declined to $2.20 from $3.07, but was above the FactSet consensus of $2.05.
9% but topped expectations, consumer sales declined 0.5% roughly in line with expectations and safety and industrial sales dropped 9.0% to be just shy of expectations. For 2019, 3M cut its net EPS guidance to $8.25 to $8.75 from $8.53 to $9.03 to reflect a charge for the deconsolidation of its Venezuelan subsidiary, but maintained its adjusted EPS outlook of $9.25 to $9.75 and its return on invested capital guidance of 20% to 22%.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Amazon partners with Realogy, sending the real-estate brokerage giant's shares soaringThe largest residential brokerage company in the U.S. is partnering with the largest online retailer in a strategy to boost sales for both.
Consulte Mais informação »
Upbeat earnings lift European shares, autos zoomEuropean shares were set to rise for a third straight session on Tuesday, tracki...
Consulte Mais informação »
Snap shares jump on upgrade ahead of earnings after the bellShares of Snap, parent company of Snapchat, rose on Tuesday following an upgrade from Stifel ahead of the company's earnings release after the bell.
Consulte Mais informação »
https://people.comGet the latest news about celebrities, royals, music, TV, and real people. Find exclusive content, including photos and videos, on PEOPLE.com.
Consulte Mais informação »
Dua Lipa and Anwar Hadid Seal Their Summer Romance With a Vintage CardiganThe singer and model make things official with the help of Lipa’s favorite vintage cardigan.
Consulte Mais informação »
Lance Bass Shares Mile High Club Shocker, Teases 'Vanderpump' Wedding and MoreThe NSYNC member was officiant at 'Vanderpump Rules' stars Jax Taylor and Brittany Cartwright's wedding and he saw so much craziness go down he pleaded the fifth on one of Andy Cohen's questions.
Consulte Mais informação »