3M (MMM) reported $5.81 billion in revenue for the quarter ended December 2024, representing a year-over-year decline of 27.5%. EPS of $1.68 for the same period compares to $2.42 a year ago.
The reported revenue represents a surprise of +0.29% over the Zacks Consensus Estimate of $5.79 billion. With the consensus EPS estimate being $1.66, the EPS surprise was +1.20%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how 3M performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Safety and Industrial: $2.70 billion compared to the $2.67 billion average estimate based on two analysts. The reported number represents a change of +1.6% year over year.
- Net Sales- Corporate and Unallocated: $78 million versus the two-analyst average estimate of $76 million.
- Net Sales- Consumer: $1.23 billion compared to the $1.24 billion average estimate based on two analysts. The reported number represents a change of +0.2% year over year.
- Net Sales- Transportation and Electronics: $1.99 billion versus $1.79 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.7% change.
- Operating Income (non-GAAP measures)- Consumer: $234 million versus $217.98 million estimated by two analysts on average.
- Operating Income (non-GAAP measures)- Transportation and Electronics: $233 million versus the two-analyst average estimate of $389.67 million.
- Operating Income (non-GAAP measures)- Safety and Industrial: $572 million versus $570.25 million estimated by two analysts on average.
Shares of 3M have returned +9.3% over the past month versus the Zacks S&P 500 composite's +1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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