3M forecasts annual profit below estimates, shares down
3M sealant is displayed at a Home Depot store on April 30, 2024 in San Rafael, California.
Justin Sullivan | Getty Images
Industrial giant 3M forecast annual adjusted profit slightly below Wall Street estimates on Tuesday, sending its shares down 4.1% before the bell.
The Scotch-tape and Post-it maker forecast 2026 adjusted profit between $8.50 and $8.70 per share, with the midpoint a cent below estimates of $8.61, according to data compiled by LSEG.
However, cost cuts, price hikes and the introduction of new products under CEO Bill Brown have helped 3M shore up margins, cushioning it from weak consumer demand against a prolonged inflationary backdrop.
The company’s adjusted profit stood at $1.83 per share during the period, compared with analysts’ estimate of $1.80 per share.
“Our accelerated pace of innovation and commercial execution positions us to outperform the macro environment again in 2026,” said CEO Brown in a statement.
Saint Paul, Minnesota-based 3M posted quarterly adjusted revenue of $6.02 billion, slightly above LSEG-compiled estimates of $6.01 billion.
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