3M: quarterly results buoyed by divestiture
(CercleFinance.com) - For its second quarter of 2018, 3M announces EPA up 19% to 3.
07 dollars, 48 cents of which attributable to a capital gain linked to the divestiture of its Communication Markets division, net of associated restructuring measures.
Excluding this exceptional item, EPS is at 2.59 dollars, more or less at the same level as consensus, to attain 7.4% revenue growth to 8.4 billion dollars (+5.6% organically and in local currencies).
As a result of the divestiture, the conglomerate adjusts its annual EPS and now forecasts it as coming between 9.08 and 9.38 dollars (10.20 to 10.45 dollars in adjusted data), with organic revenue growth in local currencies still expected to be 3% or 4%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
07 dollars, 48 cents of which attributable to a capital gain linked to the divestiture of its Communication Markets division, net of associated restructuring measures.
Excluding this exceptional item, EPS is at 2.59 dollars, more or less at the same level as consensus, to attain 7.4% revenue growth to 8.4 billion dollars (+5.6% organically and in local currencies).
As a result of the divestiture, the conglomerate adjusts its annual EPS and now forecasts it as coming between 9.08 and 9.38 dollars (10.20 to 10.45 dollars in adjusted data), with organic revenue growth in local currencies still expected to be 3% or 4%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.