3M: Q4 short of consensus

(CercleFinance.com) - 3M has reported Q4 2019 adjusted EPS that is down 15.
6% at 1.95 dollars, 15 cents short of the consensus, for sales that are up 2.1% at 8.1 billion dollars (-2.6% in organic terms and in local currencies).

Over FY 2019, the Saint-Paul (Minnesota) -based conglomerate saw its adjusted EPS fall by 13% to 9.10 dollars, only just above its target range provided three months ago (8.99 dollars to 9.09 dollars), with the group now expecting between 9.30 dollars and 9.75 dollars in 2020.

Alongside this publication, 3M announces a restructuring plan that should result in approximately 1,500 layoffs, and which has resulted in a pre-tax exceptional charge of 134 million dollars in Q4 2019.



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