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)