3M: Q4 earnings up 22%

(CercleFinance.com) - The conglomerate 3M has reported Q4 2020 adjusted EPS that is up 22.
1% at 2.38 dollars, which beat expectations, however, while operating profit came in at 1.8 billion dollars, meaning an operating margin of 21.5%.

Group revenues increased by 5.8% to 8.6 billion dollars (+5.5% in organic terms and in local currencies), with the Covid-19 pandemic having had contrasting effects according to the group's different business segments.

Therefore presenting FY 2020 adjusted EPS of 8.74 dollars, with a 1.7% organic decline in sales and in local currencies, 3M targets FY 2021 EPS 9.20-9.70 dollars and +3% to +6% respectively.


Copyright (c) 2021 CercleFinance.com. All rights reserved.