Why 3M Shares Are Surging Today
Portfolio Pulse from Akanksha Bakshi
3M Co reported Q2 FY23 adjusted net sales of $7.99 billion, a 4.7% YoY decline, beating the consensus of $7.87 billion. Adjusted EPS was $2.17, down 11.4% YoY, above the consensus of $1.72. The company's gross margin expanded by 320 bps to 44.7%, with a gross profit of $3.72 billion (+3% YoY). 3M's shares are trading higher by 5.00% at $109.48.
July 25, 2023 | 4:40 pm
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POSITIVE IMPACT
3M Co reported better than expected Q2 FY23 results, leading to a 5% increase in its share price.
3M Co reported better than expected Q2 FY23 results, with adjusted net sales and EPS both beating consensus estimates. This positive news has led to an increase in the company's share price, indicating a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100