— 3M Company (NYSE: MMM) reported third-quarter 2019 earnings of $2.72 per share versus $2.49 per share expected.
— Sales declined by 2% to $7.99 billion versus $8.16 billion expected. Organic local-currency sales declined by 1.3% while acquisitions, net of divestitures, increased sales by 0.6%. Foreign currency translation reduced sales by 1.3%.
— Sales grew by 4.7% in Health Care and 1.7% in Consumer, while it decreased by 4.4% in Transporation and Electronics and 5.7% in Safety and Industrial.
— On a geographic basis, total sales rose 0.8% in the US and 0.6% in Latin America/Canada, while it declined 4.1% in EMEA and 5% in the Asia Pacific.
— Looking ahead into the fourth quarter, the company expects earnings in the range of $2.05 to $2.15 per share and organic local-currency sales will decline between 1% to 3%.
— For 2019, earnings guidance is lowered to the range of $8.20 to $8.30 per share from the previous range of $8.25 to $8.75 per share.
Read: Dow Q3 earnings snapshot
— The adjusted earnings outlook for the full year is reduced to the range of $8.99 to $9.09 per share from the prior range of $9.25 to $9.75 per share.
— For 2019, the company now expects organic local-currency sales to decline between 1% to 1.5% compared to a prior expectation of minus 1% to plus 2%.
— The return on the invested capital forecast is cut to the range of 18.5% to 19.5% from the previous range of 20% to 22% for the full year.
Most Popular
V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results
Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew
Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results
Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter
McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings
Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings
Comments
Comments are closed.