3M Co. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - 3M Co. (MMM) reported a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $834 million, or $1.56 per share. This compares with $1.372 billion, or $2.49 per share, last year.

Excluding items, 3M Co. reported adjusted earnings of $1.177 billion or $2.19 per share for the period.

Analysts on average had expected the company to earn $2.07 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.5% to $6.517 billion from $6.294 billion last year.

3M Co. earnings at a glance (GAAP) :

-Earnings: $834 Mln. vs. $1.372 Bln. last year. -EPS: $1.56 vs. $2.49 last year. -Revenue: $6.517 Bln vs. $6.294 Bln last year.

-Guidance: Full year EPS guidance: $7.95 - $8.05