3M reports rise in Q3 earnings

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18 October 2005 – St Paul (MN): 3M has posted a 10 per cent rise in earnings for its Q3 financial results and increased its outlook for full-year profit.

Net income jumped to $853 million, or EPS of $1.10, compared to earnings of $775 million, or EPS of $0.97, the previous year. Worldwide sales were up 8.3 per cent to $5.38 billion, beating analysts’ estimates of $5.31 billion for the period.

 

The company forecasts Q4 profit of $1.02 to $1.03 a share, with sales expected to climb 4 to 7 per cent, while analysts expect to see EPS of $1.04 for the quarter. Full-year earnings, meanwhile, are expected to come in at $4.24 to $4.25 a share, matching analysts’ forecasts.