3M Beats Fourth-quarter Earning Expectations

By Caitlin HustonMarketWatch Pulse

3M shares rose 1% in pre-market trade Tuesday after the company beat fourth-quarter earnings expectations. 3M reported net income of $1.04 billion, or $1.66 per share, down from $1.18 billion, or $1.81 a share, in the year-earlier period. The company reported adjusted earnings per share of $1.80, above the FactSet consensus of $1.63. 3M reported sales of $7.298 billion, below $7.72 billion in the year-earlier period, but beating the FactSet consensus of $7.21 billion. The company affirmed its 2016 outlook, saying it expects earnings in the range of $8.10 to $8.45 a share.

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