2024-05-01 18:25:47 ET
Summary
- 3M reported Q1 earnings with revenue beating expectations and adjusted EPS at $2.39/share.
- The company issued EPS guidance for the year at $6.80 to $7.30.
- Adjusted organic sales grew 0.8%, showing improvement from previous declines accompanied by margin improvement.
- Dividend could be cut 50%.
3M First Quarter Earnings Report:
3M ( MMM ) reported Q1 2024 earnings this morning; revenue beat by a small amount and adjusted EPS came in at $2.39/share. The adjustments were numerous and fairly large. Therefore, I recommend people to go through 3M's quarterly presentation. The two biggest pieces were cost cuts, net of restructuring charges and a delay of stock compensation expense to Q2....
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3M Stock: Dividend Likely Cut In Half