Golf Clap for 3M
3M (NYS: MMM) reported earnings on July 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), 3M met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue increased slightly. GAAP earnings per share grew.
Margins dropped across the board.
3M reported revenue of $7.75 billion. The 11 analysts polled by S&P Capital IQ expected a top line of $7.77 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.71. The 16 earnings estimates compiled by S&P Capital IQ averaged $1.71 per share. GAAP EPS of $1.71 for Q2 were 3.0% higher than the prior-year quarter's $1.66 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 48.2%, 40 basis points worse than the prior-year quarter. Operating margin was 22.0%, 90 basis points worse than the prior-year quarter. Net margin was 15.4%, 10 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $7.90 billion. On the bottom line, the average EPS estimate is $1.78.
Next year's average estimate for revenue is $31.06 billion. The average EPS estimate is $6.70.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 4,433 members out of 4,590 rating the stock outperform, and 157 members rating it underperform. Among 1,367 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,350 give 3M a green thumbs-up, and 17 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on 3M is hold, with an average price target of $110.19.
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The article Golf Clap for 3M originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends 3M and recommends the following options:long January 2014 $65 calls on 3M. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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