U.S. Markets closed

Free Post Earnings Research Report: 3M’s Sales Soared 7.4%; EPS Jumped 19.0%

Stock Monitor: IDEX Corp. Post Earnings Reporting

LONDON, UK / ACCESSWIRE / July 31, 2018 / If you want access to our free earnings report on 3M Co. (NYSE: MMM), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MMM. The Company reported its financial results on July 24, 2018, for the second quarter of the fiscal year 2018 (Q2 FY18). The diversified technology Company worldwide surpassed analysts' estimates for revenues in Q2 FY18. Additionally, the Company raised its guidance for the full fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for IDEX Corporation (NYSE: IEX), which also belongs to the Industrial Goods sector as the Company 3M. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=IEX

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, 3M most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=MMM

Earnings Highlights and Summary

For Q2 FY18, 3M's sales advanced 7.4% to $8.39 billion compared to $7.81 billion in Q2 FY17. The growth in sales included a benefit from organic local-currency of 5.6%; acquisitions, net of divestitures, sales growth of 0.8 %; and a benefit from foreign currency translation of 1.0%. The Company's revenue numbers exceeded analysts' estimates of $8.32 billion.

For the reported quarter, 3M incurred total operating expenses of $5.99 billion versus $5.66 billion in the year ago comparable period, increasing 5.9% on a y-o-y basis. The Company posted an operating income of $2.40 billion in Q2 FY18, up by 11.5% from $2.15 billion in Q2 FY17.

During Q2 FY18, 3M posted a net income of $1.86 billion compared to $1.58 billion in Q2 FY17, increasing 17.3% on a y-o-y basis. The Company reported diluted earnings per share (EPS) of $3.07 in the reported quarter compared to $2.58 in the year ago corresponding period, reflecting a growth of 19.0% on a y-o-y basis. The Company's EPS for Q2 FY18 included a benefit from divestiture gain of $0.48 per share, net of related restructuring actions, whereas its EPS for Q2 FY17 included a benefit from divestiture gain of $0.33 per share, partially offset by portfolio and footprint investments. The Company's reported adjusted EPS were in-line with analysts' estimates of $2.59.

Segment Details

3M manages its operations in five business segments, namely: (i) Industrial; (ii) Safety and Graphics; (iii) Health Care; (iv) Electronics and Energy; (v) and Consumer.

For Q2 FY18, the Industrial segment's sales grew 6.9% to $3.15 billion compared to $2.95 billion in Q2 FY17. The segment's operating income was $724.0 million in the reported quarter, up by 27.5% from $568.0 million in the prior year's same period.

The Safety and Graphics segment's sales increased 15.7% to $1.82 billion in Q2 FY18 compared to $1.57 billion in Q2 FY17. The segment's operating income declined 43.6% to $480.0 million in Q2 FY18 compared to $851.0 million in Q2 FY17.

During Q2 FY18, the Health Care segment's sales surged 4.9% to $1.52 billion compared to $1.45 billion in Q2 FY17. The segment's operating income was $435.0 million in the reported quarter versus $408.0 million in the comparable quarter, increasing 6.6% on a y-o-y basis.

For the reported quarter, the Electronics and Energy segment's sales increased 3.6% to $1.34 billion compared to $1.29 billion in the corresponding quarter of last year. The segment's operating income zoomed 166.2% to $865.0 million in Q2 FY18 compared to $325.0 million in Q2 FY17.

The Consumer segment generated sales of $1.22 billion in the reported quarter, up by 4.6% from $1.17 billion in year earlier same quarter. The segment's operating income jumped 31.8% to $261.0 million in Q2 FY18 compared to $198.0 million in Q2 FY17.

Cash Matters

As of June 30, 2018, 3M's cash and cash equivalents stood at $2.80 billion compared to $2.65 billion as of June 30, 2017. The Company had a long-term debt of $11.29 billion as of June 30, 2018, versus $12.10 billion as of December 31, 2017. For the six months ended June 30, 2018, the Company generated a cash inflow from operating activities of $2.04 billion compared to $2.63 billion in the six months ended June 30, 2017. For the reported quarter, the Company had a free cash flow of $1.53 billion versus $1.34 billion in the comparable quarter of last year.

Outlook

For the full fiscal year 2018, 3M expects EPS to be in the band of $9.08 to $9.38 compared to its prior range of $8.68 to $9.03; and net income to be in the range of $5.5 billion to $5.7 billion. The Company anticipates adjusted EPS to be in the band of $10.20 to $10.45 for FY18 compared to its previous guidance of $10.20 to $10.55. The Company projects organic local-currency sales growth to be in the range of 3% to 4%, and free cash flow conversion to be between 90% and 100% for FY18.

Stock Performance Snapshot

July 30, 2018 - At Monday's closing bell, 3M's stock declined 1.11%, ending the trading session at $205.12.

Volume traded for the day: 2.04 million shares.

Stock performance in the last month – up 4.67%; previous three-month period – up 5.52%; and past twelve-month period – up 2.70%

After yesterday's close, 3M's market cap was at $121.31 billion.

Price to Earnings (P/E) ratio was at 23.21.

The stock has a dividend yield of 2.65%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

SOURCE: Active-Investors