Tags: 3M | earnings | profit | sales

3M's Profit Climbs More Than 11 Percent

Thursday, 30 Jan 2014 08:46 AM

3M says its fourth-quarter earnings jumped more than 11 percent, fueled in part by a revenue gain from the Post-it note maker's industrial business.

The Maplewood, Minn., company says it earned $1.1 billion, or $1.62 per share, in the quarter ended Dec. 31. That compares to $991 million, or $1.41 per share, a year ago.

Revenue climbed 2.5 percent to $7.57 billion.

Analysts forecast earnings of $1.61 per share on $7.73 billion in revenue.

3M also makes reflective coatings for signs and glues and adhesives, and its products are used in a variety of industries.

It says revenue from its industrial business climbed 6.1 percent to $2.6 billion, driven by gains for advanced materials, aerospace and automotive aftermarket products.

3M Co. shares are up 75 cents to $131 per share in premarket trading.

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3M says its fourth-quarter earnings jumped more than 11 percent, fueled in part by a revenue gain from the Post-it note maker's industrial business.
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2014-46-30
Thursday, 30 Jan 2014 08:46 AM
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