3M Stock ( NYSE:MMM )
The quarterly earnings report for 3M ( NYSE:MMM ) is set to be released on Tuesday, January 24th, before the market opening.
The average analyst projection for earnings per share comes in at $2.39, an increase of 3.5% yearly. The average analyst projection for revenue comes in at $8.09 billion, which is a decrease of 6% year over year.
During the last three months, the consensus estimate for EPS has been revised twice and twelve times lower. There has been one negative revision for every positive adjustment made to the revenue predictions.
3M has indicated that the consumer sector would see additional deterioration for most of the fourth quarter, with reduced healthcare and consumer electronics demand.
In a preview released before the data release, Wells Fargo said that it anticipates a headwind from disposable respirators and food safety, despite the possibility that the bottom line may gain from reduced costs connected to better supply chain efficiency.
According to Ironside Research, the potential of 3M being sued next year will be a critical pressure point for the company. 3M’s efforts to protect itself from lawsuits relating to earplugs have been unsuccessful up to this point. Because of this, share prices have decreased by around 29% during the previous year.
A federal judge recently stopped court-sponsored mediation sessions between 3M stock and plaintiffs claiming that earplugs a business unit created for the United States military were faulty. The plaintiffs are suing the corporation over the alleged defective ...
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