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10/26/2021, 12:34 PM (Source: TeleTrader)
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3M reports Q3 revenue of $8.9 billion, up 7.1% YoY

The 3M Co. announced on Tuesday its third-quarter revenue at $8.9 billion, an increase of 7.1% compared to the same quarter in 2020. Earnings per share (EPS) came to $2.45, unchanged from the third fiscal period last year. Net income was $1.4 billion, also little changed from Q3 2020.

The company updated its outlook for the full year to include current results and "reflect the current global supply chain disruptions." EPS was previously expected to reach up to $10.1 but is now capped at $9.90.

"Overall, end-market demand remained strong, and we navigated supply chain disruptions by maintaining a relentless focus on serving and innovating for our customers. Moving ahead, we will continue to invest for the future by investing in strong demand areas aligned with global trends, while improving our operational performance, driving productivity and advancing sustainability," said CEO Mike Roman.

3M stock gained 2.25% premarket after the earnings report.

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