3M Co. Q3 Profit Increases, beats estimates

(RTTNews) - 3M Co. (MMM) released a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $3.86 billion, or $6.77 per share. This compares with $1.43 billion, or $2.45 per share, in last year's third quarter.

Excluding items, 3M Co. reported adjusted earnings of $1.53 billion or $2.69 per share for the period.

Analysts on average had expected the company to earn $2.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.6% to $8.62 billion from $8.94 billion last year.

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

-Earnings (Q3): $3.86 Bln. vs. $1.43 Bln. last year. -EPS (Q3): $6.77 vs. $2.45 last year. -Analyst Estimate: $2.60 -Revenue (Q3): $8.62 Bln vs. $8.94 Bln last year.