Charting 3M's Latest Earnings Release

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3M (NYSE: MMM) reported earnings on July 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), 3M missed estimates on revenue and met expectations on earnings per share.

Compared to the prior-year quarter, revenue shrank slightly and GAAP earnings per share grew.

Margins improved across the board.

Revenue details
3M reported revenue of $7.53 billion. The 10 analysts polled by S&P Capital IQ wanted to see sales of $7.79 billion on the same basis. GAAP reported sales were 1.9% lower than the prior-year quarter's $7.68 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.66. The 12 earnings estimates compiled by S&P Capital IQ anticipated $1.65 per share. GAAP EPS of $1.66 for Q2 were 3.7% higher than the prior-year quarter's $1.60 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 48.6%, 120 basis points better than the prior-year quarter. Operating margin was 22.9%, 140 basis points better than the prior-year quarter. Net margin was 15.5%, 40 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $7.79 billion. On the bottom line, the average EPS estimate is $1.66.

Next year's average estimate for revenue is $30.52 billion. The average EPS estimate is $6.40.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 4,418 members out of 4,563 rating the stock outperform, and 145 members rating it underperform. Among 1,315 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,293 give 3M a green thumbs-up, and 22 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on 3M is outperform, with an average price target of $96.12.

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