3M Company (NYSE: MMM), a leading manufacturer and distributor of industrial products and solutions, announced third-quarter results, reporting broadly flat revenues and an increase in adjusted profit.
- Third-quarter net sales came in at $6.3 billion, which is up 0.4% from the prior-year quarter
- The company reported adjusted sales of $6.1 billion, with organic growth of 1% year-over-year
- Earnings per share from continuing operations was $2.48 during the three months, vs. a loss of $4.56 per share in Q3 2023
- On an adjusted basis, earnings from continuing operations climbed 18% annually to $1.98 per share in Q3
- The company generated an operating cash flow of (-)$1.8 billion and an adjusted free cash flow of $1.5 billion in the September quarter
- It raised full-year 2024 guidance for earnings per share from continuing operations to $7.20-$7.30 from the earlier outlook of $7.0-$7.30
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