Tags: US | Earns | 3M

3M Raises Forecast as Profit Jumps 74 Percent

Thursday, 28 Jan 2010 09:01 AM

3M says 2009 closed on a strong note and it's raising its profit expectations for the new year.

Fourth-quarter profit rose 74 percent. 3M, which is considered a window into overall U.S. economic health, increased its 2010 earnings expectations to $4.90 to $5.10 per share from $4.85 to $5 per share previously.

The company, based in Maplewood, Minn., makes everything from Post-its to films for LCD TVs. 3M earned $935 million, or $1.30 per share in the last three months of 2008, compared with $536 million, or 77 cents per share a year earlier.

Revenue increased 11 percent to $6.12 billion.

Thomson Reuters says analysts were expecting a profit of $1.21 per share on revenue of $5.88 billion.

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3M says 2009 closed on a strong note and it's raising its profit expectations for the new year.Fourth-quarter profit rose 74 percent. 3M, which is considered a window into overall U.S. economic health, increased its 2010 earnings expectations to $4.90 to $5.10 per share...
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2010-01-28
Thursday, 28 Jan 2010 09:01 AM
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