3M Company’s Upcoming Third Quarter Earnings Release

S&P 500 (NYSE:SPY) component 3M Company (NYSE:MMM) will unveil its latest earnings on Tuesday, October 25, 2011. 3M is a global manufacturer, technology innovator, and marketer of a variety of products.

3M Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.61 per share, a rise of 5.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.68. Between one and three months ago, the average estimate moved down. It has been unchanged at $1.61 during the last month. For the year, analysts are projecting net income of $6.19 per share, a rise of 7.7% from last year.

Past Earnings Performance: The company fell in line with estimates last quarter after topping forecasts the quarter before. After coming in above the mean estimate by 6 cents in the first quarter, the company fell in line with expecations by reporting profit of $1.60 per share last quarter.

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Wall St. Revenue Expectations: On average, analysts predict $7.78 billion in revenue this quarter, a rise of 13.2% from the year ago quarter. Analysts are forecasting total revenue of $30.08 billion for the year, a rise of 12.8% from last year’s revenue of $26.66 billion.

Analyst Ratings: Analysts are bullish on this stock with 11 analysts rating it as a buy, one rating it as a sell and two rating it as a hold.

A Look Back: In the second quarter, profit rose 3.5% to $1.16 billion ($1.60 a share) from $1.12 billion ($1.54 a share) the year earlier, meeting analyst expectations. Revenue rose 14.1% to $7.68 billion from $6.73 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 15.2% in the first quarter from the year earlier, climbed 9.6% in the fourth quarter of the last fiscal year from the year-ago quarter and 11% in the third quarter of the last fiscal year.

The company has now been profitable for the last eight quarters, and for the last four, profit has risen year over year by an average of 8.6%. The quarter with the biggest boost was the first quarter, which saw a 16.2% surge.

Competitors to Watch: General Electric Company (NYSE:GE), Danaher Corporation (NYSE:DHR), Johnson & Johnson (NYSE:JNJ), DENTSPLY Intl. Inc. (NASDAQ:XRAY), Tyco International Ltd. (NYSE:TYC), Carlisle Companies, Inc. (NYSE:CSL), Honeywell Intl. Inc. (NYSE:HON), Siemens AG (NYSE:SI), and E.I. du Pont de Nemours & Co. (NYSE:DD).

Stock Price Performance: During July 26, 2011 to October 19, 2011, the stock price had fallen $11.63 (-13%) from $89.33 to $77.70. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 28, 2011 when shares rose for eight-straight days, rising 6.3% (+$5.70) over that span. It saw one of its worst periods between July 21, 2011 and August 2, 2011 when shares fell for nine-straight days, falling 11% (-$10.50) over that span. Shares are down $7.01 (-8.3%) year to date.

(Source: Xignite Financials)

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