Post-It Maker 3M Q3 Earnings: Sales Growth Slows, Margins Expand, Raises Annual Profit Outlook
Portfolio Pulse from Lekha Gupta
3M Company (NYSE:MMM) reported better-than-expected Q3 earnings, with adjusted EPS of $1.98 and net sales of $6.294 billion. The company raised its FY24 EPS guidance and adjusted total sales growth outlook. MMM shares rose 3.83% premarket. Investors can gain exposure through ETFs like TINT and DOGG.
October 22, 2024 | 1:15 pm
News sentiment analysis
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POSITIVE IMPACT
FT Vest DJIA Dogs 10 Target Income ETF (BATS:DOGG) includes 3M, which reported strong Q3 earnings and raised its FY24 guidance, potentially benefiting the ETF.
DOGG's inclusion of 3M means the ETF could benefit from 3M's positive earnings and guidance, potentially enhancing its performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
3M reported strong Q3 earnings with adjusted EPS of $1.98, beating expectations. The company raised its FY24 EPS guidance and sales growth outlook, leading to a 3.83% premarket share price increase.
3M's better-than-expected Q3 earnings and raised FY24 guidance are positive indicators for the company's financial health, likely boosting investor confidence and driving the stock price up.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
ProShares Smart Materials ETF (NYSE:TINT) offers exposure to 3M, which reported strong Q3 earnings and raised its FY24 guidance, potentially benefiting the ETF.
As TINT includes 3M, the positive earnings report and guidance raise for 3M could positively impact the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50