3M: Q4 above expectations

(CercleFinance.com) - 3M has announced Q4 2017 EPS that is down 55% at 0.
85 dollar, suffering from the tax reform, without which EPS would have risen by 11.7% to 2.10 dollars, therefore exceeding the consensus by 7 cents.

At 8 billion dollars, the Minnesota-based conglomerate's revenue increased by 9% as reported, including organic growth in local currencies of 6%, with growth across all businesses and in all geographic areas.

Reporting adjusted 2017 EPS that is up 12.4% at 9.17 dollars, therefore beating its target range of 9 dollars to 9.10 dollars, 3M has raised its 2018 GAAP EPS forecast to between 10.20 dollars and 10.70 dollars, compared to 9.60 dollars to 10 dollars previously.


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