3M 2Q Earnings Pregame Scorecard

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Last quarter 3M (NYSE:MMM) topped estimates by 11 cents per share, and it is scheduled to report again on Thursday.

Expectations 

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Analysts currently expect 3M to come in with earnings of $1.65 per share on revenues of $7.79 billion. Estimates from analysts range from earnings per share to earnings per share. Over the past two months, the average estimate has moved down from $1.66.

Stock Movement 

The stock fell $3.62 per share between May 10, 2012 and May 18, 2012.

Company Fundamental Trends  On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 14.1% in the second quarter of the last fiscal year, 9.6% in the third quarter of the last fiscal year and 5.7% in the fourth quarter of the last fiscal year before increasing again in the first quarter. Net income has improved by a year-over-year average of 2.2% over the previous four quarters, and the company heads into its upcoming earnings announcement with solid profits of late. Stock Ratings 

Analysts are bullish on the stock as seven analysts rate it as a buy and there are no sell ratings. Analyst sentiment has been waning recently, as the average rating has dropped slightly over the past three months.

Last Quarter's Results 

In the first quarter, profit rose 4.1% to $1.13 billion ($1.59 a share) from $1.08 billion ($1.49 a share) the year earlier, exceeding analyst expectations. Revenue rose 2.4% to $7.49 billion from $7.31 billion.

Summary 

Reporting Period: 2Q

Date of Release: Thursday, July 26, 2012 before market open

EPS: $1.65

Revenue Estimate: $7.79 billion

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)