S&P 500 (NYSE:SPY) component 3M (NYSE:MMM) will unveil its latest earnings tomorrow, Thursday, January 24, 2013. 3M is a global manufacturer, technology innovator, and marketer of a variety of products.
3M Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of $1.41 per share, a rise of 4.4% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from $1.49. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.41 during the last month. For the year, analysts are projecting net income of $6.32 per share, a rise of 6% from last year.
Past Earnings Performance: Last quarter, the company missed estimates by one cent, coming in at profit of $1.65 per share versus a mean estimate of net income of $1.66 per share. In the second quarter, the company beat estimates by one cent.
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A Look Back: In the third quarter, profit rose 6.7% to $1.16 billion ($1.65 a share) from $1.09 billion ($1.52 a share) the year earlier, but fell short analyst expectations. Revenue fell 0.5% to $7.5 billion from $7.53 billion.
Here’s how 3M traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week: