TELETRADER News
4/26/2022, 12:35 PM
(Source: TeleTrader)
3M's EPS tumbles in Q1 amid revised 2022 outlook
3M Co. published its first-quarter earnings results on Tuesday, revealing that its sales annually slipped 0.3% to $8.8 billion, with earnings per share tumbling 18% to $2.26.
"In a challenging global environment, 3M delivered a strong start to 2022 with solid growth, operating margins, and robust cash generation... We continue to prioritize actions to better serve our customers while managing supply chain and inflationary challenges," CEO Mike Roman noted.
In its full-year guidance, 3M lowered 2022's earnings per share expectations to between $9.89 and $10.39.