09:01 AM EDT, 04/30/2024 (MT Newswires) -- 3M ( MMM ) reported Q1 adjusted earnings Tuesday of $2.39 per diluted share, up from $1.97 a year earlier.

Analysts polled by Capital IQ expected $2.11.

Sales for the quarter ended March 31 was $8 billion, down from $8.03 billion a year earlier. Analysts polled by Capital IQ expected $7.66 billion.

The company said it expects full-year 2024 adjusted earnings of $6.80 to $7.30 per diluted share. Analysts polled by Capital IQ expect $7.49.

3M ( MMM ) said its dividend payout ratio is anticipated to be around 40% of adjusted free cash flow, following the spin-off of Solventum. The spin-off was completed April 1.

Shares of 3M ( MMM ) were 7.8% higher in recent premarket activity.

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