IHS Chemical Week

3M cuts guidance

11:42 AM MDT | April 25, 2013

Sales growth in healthcare and industrial segments led to modest first-quarter gains for 3M, although the company lowered its full-year guidance. Net income increased 1% year-on-year (YOY), to $1.13 billion with earnings per share reaching $1.61/share—down from analyst estimates of $1.65/share, as reported by Thomson Reuters (New York). Sales increased 2% YOY, to $7.6 billion. Looking ahead, 3M says it anticipates full-year 2013 earnings of $6.60-$6.85/share—down from previous expectations of $6.70-$6.95/share. Analysts estimates are at $6.83/share. 3M posted...

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