Here's Why 3M Stock Crushed the Market Today
Shares of 3M (NYSE: MMM) rose by 8% before 11 a.m. on Tuesday as the market digested an impressive first-quarter earnings report.Sales came in at the high end of the intra-quarter adjustments to management's outlook given in March, and margins and profits were significantly higher than the previous outlook.On the earnings call in January, the company told investors to expect first-quarter sales similar to that of the fourth quarter and adjusted earnings per share (EPS) similar to that of the first quarter of 2024. Investors were initially expecting organic sales growth of 2.1% in the first quarter, accompanied by EPS of $1.71.Continue reading
Shares of 3M (NYSE: MMM) rose by 8% before 11 a.m. on Tuesday as the market digested an impressive first-quarter earnings report.
Sales came in at the high end of the intra-quarter adjustments to management's outlook given in March, and margins and profits were significantly higher than the previous outlook.
On the earnings call in January, the company told investors to expect first-quarter sales similar to that of the fourth quarter and adjusted earnings per share (EPS) similar to that of the first quarter of 2024. Investors were initially expecting organic sales growth of 2.1% in the first quarter, accompanied by EPS of $1.71.
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