10/27/2020, 11:34 AM (Source: TeleTrader)
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3M reports revenue at $8.4B in Q3, up 4.5% YoY

The 3M Company announced on Tuesday its third-quarter revenue landed at $8.4 billion, above analyst expectations and 4.5% higher compared to the same period a year earlier despite the continued effects of the coronavirus pandemic on business. In the update, 3M also reported earnings per share of $2.43, marking a 10.7% decline on the year.

"Though economic uncertainty and challenges due to the COVID-19 pandemic remain, we returned to positive organic sales growth with sequential improvement across businesses and geographies. We posted another quarter of robust cash flow, aggressively managed costs and further strengthened our balance sheet," 3M Chairman and Chief Executive Officer Mike Roman said in a press release.

Shares of 3M were up 0.40% at $166.83 per share shortly following the release of the company's earnings during premarket trading.

Breaking the News / JC