Free Research Report as 3M’s Quarterly Sales Grew 9% and Adjusted EPS Advanced 11.7%

Stock Monitor: IDEX Corp. Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 31, 2018 / Active-Investors.com has just released a free earnings report on 3M Co. (NYSE: MMM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MMM. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 24, 2018. The maker of Post-it notes, industrial coatings, and ceramics outperformed top- and bottom-line expectations, and raised its earnings guidance for FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for IDEX Corporation (NYSE: IEX), which also belongs to the Industrial Goods sector as the Company 3M. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=IEX

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, 3M most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=MMM

Earnings Highlights and Summary

For Q4 2017, 3M’s net sales grew 9.0% to $7.99 billion compared to $7.33 billion in Q4 2016. The Company’s organic local-currency sales increased 6.0% on a y-o-y basis, while acquisitions, net of divestitures, benefitted sales by 0.3% and foreign currency translation added 2.7%. 3M’s revenue numbers surpassed analysts’ estimates of $7.88 billion.

For the full year FY17, 3M’s net sales increased 5.1% to $31.66 billion compared to $30.11 billion in FY16. The Company’s organic local-currency sales increased 5.2%, while the combination of acquisitions and divestitures decreased sales by 0.6%. Foreign currency translation increased sales by 0.5% in FY17.

For Q4 2017, 3M’s operating income was $1.82 billion compared to $1.67 billion in Q4 2016.

3M’s GAAP earnings were $523 million, or $0.85 per diluted share, Q4 2017 compared to $1.16 billion, or $1.88 per diluted share, in Q4 2016. The Tax Cuts and Jobs Act (TCJA), signed into law in the reported quarter, resulted in a net tax expense of $762 million, or $1.25 per share, in Q4 2017. Excluding this expense, the Company’s earnings advanced 11.7% to $2.10 per share on a y-o-y basis. 3M’s earnings beat Wall Street’s estimates of $2.03 per share.

For FY17, 3M’s GAAP net income was $4.86 billion, or $7.93 per share, compared to $5.05 billion, or $8.16 per share, in FY16. Excluding the net impact of TCJA, the Company’s earnings stood at $9.17 per share in FY17, reflecting an increase of 12.4% compared to the year ago.

Business Group Results

During Q4 2017, 3M’s Industrial segment’s sales grew 6.9% to $2.7 billion in US dollars. The segment’s organic local-currency sales increased 3.9%, while foreign currency translation benefitted sales by 3.0%. For the reported quarter, the segment’s operating income totaled $527 million, down 5.5% on a y-o-y basis.

For Q4 2017, 3M’s Safety and Graphics segment’s sales jumped 15.0% to $1.5 billion in US dollars. The segment’s organic local-currency sales increased 10.7%; foreign currency translation aided sales by 3.2%; while acquisitions increased sales by 1.1%. The Safety and Graphics segment’s operating income soared 50% to $406 million on a y-o-y basis, including a divesture gain of $95 million.

3M’s Health Care segment’s sales climbed 6.0% to $1.5 billion in US dollars. The segment’s organic local-currency sales rose 3.1%; foreign currency translation increased sales by 2.8%; and acquisitions added 0.1%. The segment’s operating income jumped 12.3% to $464 million on a y-o-y basis.

During Q4 2017, 3M’s Electronics and Energy segment’s sales advanced 12.5% to $1.3 billion on a y-o-y basis. The segment’s organic local-currency sales increased 11.0%; and foreign currency translation added 1.8%, partially offset by a 0.3% decline related to divestitures. The segment’s operating income was $334 million, reflecting an increase of 2.6% on a y-o-y basis.

3M’s Consumer segment’s sales totaled $1.2 billion for Q4 2017, up 7.3% in US dollars. The segment’s organic local-currency sales grew 5.4%, and foreign currency translation increased sales by 1.9%. The Consumer segment’s operating income jumped 17.6% to $269 million.

Cash Matters

For Q4 2017, 3M’s operating cash flow was $1.9 billion, contributing to a conversion of 268% of net income to free cash flow. This result included a $600 million contribution to the Company’s US defined benefit pension plan in the reported quarter, following the signing of the TCJA. The net impact of the TCJA and pension contribution positively impacted free cash flow conversion by 112%.

3M paid $699 million in cash dividends to shareholders and repurchased $504 million of its own shares during Q4 2017.

2018 Outlook

For the full year FY18, 3M is forecasting earnings per share to be in the range of $10.20 to $10.70 versus the prior expectations of $9.60 to $10.00. The Company affirmed its organic local-currency sales growth expectations of 3% to 5%, and free cash flow conversion of 90% to 100%.

Stock Performance Snapshot

January 30, 2018 – At Tuesday’s closing bell, 3M’s stock declined 1.75%, ending the trading session at $251.54.

Volume traded for the day: 2.39 million shares, which was above the 3-month average volume of 1.96 million shares.

Stock performance in the last month – up 6.71%; previous three-month period – up 7.16%; past twelve-month period – up 43.39%; and year-to-date – up 6.87%

After yesterday’s close, 3M’s market cap was at $150.32 billion.

Price to Earnings (P/E) ratio was at 31.72.

The stock has a dividend yield of 1.87%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

ReleaseID: 487441