FX.co ★ 3M Boosts FY24 Adj. EPS Outlook - Update

3M Co. (MMM) reported its financial results for the second quarter on Tuesday and has subsequently raised its adjusted earnings guidance for the full fiscal year 2024 while maintaining its projections for total sales and organic sales growth.

The company now anticipates adjusted earnings from continuing operations to be within the range of $7.00 to $7.30 per share, an increase from the previous forecast range of $6.80 to $7.30 per share. The expectations for total sales remain between a slight decline of 0.25 percent and an increase of 1.75 percent, with organic sales growth forecasted to be flat to 2.0 percent.

Analysts surveyed by Thomson Reuters, on average, predict the company will report earnings of $7.17 per share and a net sales decline of 25.10 percent to $23.52 billion for the year. These analyst estimates typically do not factor in special items.