3M announces solid Q4


19 January 2005 – St Paul (MN): 3M has posted a 16 per cent increase in Q4 income, on the back of strong performances in its OP supplies and industrial products businesses, the company has reported.

The manufacturer announced Q4 earnings of $720 million, or EPS of $0.91, up from $619 million, or EPS of $0.77, in the year-ago quarter.

Total sales were up 7.9 per cent to $5.09 billion from $4.72 billion a year ago. Sales from outside the US were up 9.5 per cent.

3M said it expected full-year earnings to be in region of $4.15-$4.25 EPS.

The company also announced an earnings forecast for Q1 of $1-$1.02 EPS, which was above most analysts’ expectations.