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Will 3M meet or exceed its revised full-year EPS guidance of $7.00 to $7.30 for FY 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
3M's official financial statements and earnings reports
Story
3M Raises Full-Year Profit Forecast Amid Strong Q2 Earnings, Stock Surges to 20-Month High
Jul 26, 2024, 10:46 AM
3M Co. has raised its full-year profit forecast, driven by demand recovery and cost-cutting measures. The company reported Q2 2024 earnings with adjusted EPS of $1.93, surpassing the estimated $1.69, and revenue of $6.26 billion, exceeding the expected $5.84 billion. Additionally, 3M's stock surged to a 20-month high following the earnings beat and improved outlook, with pre-market trading showing a +6.10% increase. The company also adjusted its full-year EPS guidance to a range of $7.00 to $7.30 from the previous $6.80 to $7.30. The new CEO's efforts to reinvigorate the manufacturer appear to be yielding positive results. GAAP EPS from continuing operations was $2.17, and the company still sees FY adjusted organic sales growth between 0% to +2%.
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