3M Posts Strong First Quarter

The company saw $8 billion in revenue in the first three months of the year.

3M headquarters in St. Paul, Minn., May 2023.
3M headquarters in St. Paul, Minn., May 2023.

ST. PAUL, Minn. (AP) — 3M Co. on Tuesday reported first-quarter net income of $928 million.

The Minnesota-based company said it had profit of $1.67 per share. Earnings, adjusted for non-recurring costs, were $2.39 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.

The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8 billion in the period.

3M expects full-year earnings in the range of $6.80 to $7.30 per share.

Shares of 3M rose $3.28 to $95.44 in Tuesday trading following the strong first-quarter results.

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