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3M Misses Estimates, Cuts Forecast on Slowing Global Growth
10:46 AM MDT | October 25, 2011 | Rebecca Coons
3M posted lower earnings and cut its full-year forecast on weak demand for LCD televisions and softening economic growth. The company reported earnings of $1.1 billion ($1.52/share) in its fiscal third quarter ended September 30, down 1.6% from the year-ago period. Analysts’ estimates were for $1.61/share. Sales increased 10%, to $7.5 billion, largely from acquisitions and foreign exchange impacts. Organic volume growth of 2% was below recent trends, the company says....
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