3M seen reporting higher revenue and EPS in results Tuesday
MMM•3M is expected to report quarterly revenue of $6.61 billion and adjusted EPS of $2.38 on Tuesday, up from $6.32 billion and $2.19 a year earlier.
1. Earnings expectations
3M is expected to report quarterly revenue of $6.61 billion, compared with $6.32 billion a year earlier, and adjusted EPS of $2.38, up from $2.19. The results are due before the bell Tuesday.
2. Investors watch litigation
Investors are also watching for updates on litigation costs. Australia filed a $1.4 billion lawsuit over "forever chemicals" contamination, and New York sued 3M, DuPont and other companies in July over the chemicals.
3. Forecast and shares
In July, 3M raised its full-year profit forecast, citing price increases offsetting inflation and strength in its safety and industrial segment. Shares were down 1% on Monday and up about 2% year to date, compared with a gain of more than 8% for the Dow Jones industrial average.
