financetom
Business
financetom
/
Business
/
3M posts fourth-quarter profit above estimates on strong demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
3M posts fourth-quarter profit above estimates on strong demand
Jan 21, 2025 4:19 AM

Jan 21 (Reuters) - U.S. industrial conglomerate 3M Co ( MMM )

on Tuesday reported fourth-quarter adjusted profit above

estimates, driven by higher sales of industrial adhesives, tapes

and electronics.

Shares of the company were up 1.8% at $143.6 in

premarket trading.

An uptick in demand for electronics used in vehicles and

mobile phones boosted results during the holiday quarter, after

months of a demand slowdown wrought by inflation-hit consumers

postponing big-ticket purchases.

The Scotch Tape maker also forecast 2025 adjusted profit

largely in line with Wall Street estimates, as it looks to

benefit from a restructuring effort aimed at optimizing its

operations and portfolio to rein in costs and focus on

higher-margin products.

It reported fourth-quarter adjusted profit of $1.68 per

share, above analysts' average expectations of $1.66, according

to data compiled by LSEG.

The St. Paul, Minnesota-based company expects 2025 adjusted

profit between $7.60 and $7.90 per share, while analysts

expected an adjusted profit of $7.77 per share.

(Reporting by Kannaki Deka in Bengaluru; Editing by Devika

Syamnath)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved