3M Company Reported Q3 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/MMM'>3M Company (NYSE:MMM) </a>reported its Q3 results, with revenue growing 7.1% year-over-year to $8.9 billion. Quarterly adjusted EPS was $2.45 per share, beating the consensus estimate of $2.18.</p>
<p>According to the analyst at RBC Capital, the company’s quarterly earnings results were consistent with the storylines they had expected for the sector this earnings season, including continued supply chain challenges and raw material inflation, but strong underlying industrial demand. </p>
<p>According to the analysts, price/cost continues to be a weak spot for the company. However, the 140 bps of gross pricing realization in Q3 is a step in the right direction after Q2’s 10 bps of gross price. The company is targeting price/cost to be neutral in Q4, and pressures should continue to ease sequentially. The analysts look for increased legal costs in Q4 for combat arms trials and potentially more PFAS-related settlements.</p>

NYSE:MMM