3M forecasts annual profit below estimates, shares down
However, cost cuts, price hikes and the introduction of new products under CEO Bill Brown are helping it shore up margins
[MINNESOTA] Minnesota-based industrial giant 3M forecasted annual adjusted profit to be slightly below Wall Street estimates on Tuesday (Jan 20), sending its shares down by 4.1 per cent before the bell.
The Scotch-tape and Post-it maker forecasted 2026 adjusted profit to be between US$8.50 and US$8.70 a share, with the midpoint a cent below estimates of US$8.61, data compiled by the London Stock Exchange Group (LSEG) showed.
However, cost cuts, price hikes and the introduction of new products under CEO Bill Brown have helped 3M shore up margins, cushioning it from weak consumer demand against a prolonged inflationary backdrop.
The company’s adjusted profit stood at US$1.83 a share during the period, higher than analysts’ estimate of US$1.80 a share.
“Our accelerated pace of innovation and commercial execution positions us to outperform the macro environment again in 2026,” said Brown.
3M also posted quarterly adjusted revenue of US$6.02 billion, slightly above LSEG-compiled estimates of US$6.01 billion. REUTERS
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