3M Sees Sales Up 5-7% In 2018

By Cara LombardoFeaturesDow Jones Newswires

3M Co. (MMM) is expecting strong results in 2018, with sales growth between 5% and 7%, the company said Tuesday.

"The 3M team is delivering a robust performance in 2017, and is well-positioned to build on that momentum in 2018 -- including strong, broad-based organic growth and expanded profitability," Chief Executive Inge Thulin said in prepared remarks.

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The industrial conglomerate guides organic local currency sales growth of 3% to 5% next year, and EPS of $9.60 to $10.00. It is expecting EPS of between $9.00 and $9.10 in the current year.

3M issued the guidance ahead of an annual outlook meeting Mr. Thulin is scheduled to speak at Tuesday. The event comes a day after the Minnesota-based company announced plans to sell most of its optical fiber and copper cable business to Corning for $900 million.

3M shares were inactive premarket Tuesday.

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

December 12, 2017 06:40 ET (11:40 GMT)