3M Co (MMM) Earnings: 12 Things to Know

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3M Co (NYSE:MMM) has released its earnings report for the second quarter of 2016 and InvestorPlace has collected a list of things to know about how well the company did.

3M Company, MMMHere are a few things to know about 3M Company’s earnings report for the second quarter of 2016.

  • The company reported earnings per share of $2.08.
  • Earnings per share for the same time last year was $2.02.
  • Wall Street was expecting earnings per share of $2.07 from the company.
  • 3M Company’s revenue for the quarter came in at $7.66 billion.
  • Revenue for the second quarter of 2015 was $7.68 billion.
  • Analysts were looking for revenue of $7.71 billion for this quarter.
  • Operating income was $1.9 billion in the second quarter of 2016.
  • Net income was $1.3 billion for the period.
  • MMM’s operating cash flow was $1.3 billion.
  • Organic local-currency sales growth was up in all geographical locations, expect for in the Asia Pacific area.
  • The company repurchased $828 million of its own share during the second quarter of the year.
  • It also paid out $672 million in cash dividends to shareholders during this time.

“Our execution of the 3M playbook is enabling us to deliver premium returns today while also building for the future, which includes making good progress on business transformation and investing approximately 10 percent of our sales into R&D and capital expenditures in the quarter,” Inge G. Thulin, 3M Company’s Chairman, President and CEO, said in a statement.

3M Company also released an updated outlook for 2016 with its earnings report for the second quarter of 2016. This includes earnings per share ranging from $8.15 to $8.30. Its previous outlook for 2016 had earnings per share falling between $8.10 and $8.45. Analysts are expecting earnings per share of $8.22 for the year.

MMM stock was up slightly as of Noon Wednesday.

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