MMM Stock Recent News

3M beat first-quarter expectations and offered full-year guidance that was in line with analysts' predictions. The company is finally set to put long-running litigation and significant restructurings behind it.

3M (MMM) came out with quarterly earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.08 per share. This compares to earnings of $1.97 per share a year ago.

Shares of 3M Co. MMM, +0.36% jumped 4.9% toward a 14-month high in premarket trading Tuesday, after the consumer, industrial and healthcare-products company reported first-quarter profit and revenue that beat expectations, during a quarter when it finalized two major legal settlements. Net income fell to $928 million, or $1.67 a share, from $976 million, or $1.76 a share, in the same period a year ago.

Weakness in the Safety and Industrial unit is likely to dent 3M's (MMM) first-quarter 2024 results. However, strength in the Transportation and Electronics unit is expected to provide some relief.

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3M (MMM) concluded the recent trading session at $92.98, signifying a +0.38% move from its prior day's close.

Paramount Global CEO Bob Bakish saw his total compensation dip slightly in 2023, to $31.3 million from $32 million in the prior year. The latest figures were disclosed Monday in an SEC filing. The next-highest tally among top execs was for CFO Naveen Chopra, who collected $8 million, up from $6.5 million in 2022.

Wall Street analysts' price targets imply some significant upside for 3M stock. Analysts have been cautious about 3M, giving it a buy rating due to the conglomerate's risk profile.

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