3M (MMM) reported better than expected Q4 earnings recently, driven by an increase in demand for its healthcare products during the Covid-19 pandemic. The company’s health-care unit recorded 12.3% in 2020 due to high consistent demand for its disposable respirators and safety products such as hand sanitizers. The company forecast 2021 earnings per share at between $9.20 and $9.70, or $9.45 at the midpoint, below analysts’ average estimate of $9.52 per share.
The company expects its full-year total sales to grow in the range of 5% to 8%. Net income increased 43% to $1.40 million, or $2.38 per share, for the quarter ending December 31. Net sales rose 5.8% to $8.6 billion.
3M (MMM) is a global science company that seems to never stop inventing. Using 46 technology platforms, their integrated team of scientists and researchers works with customers to create breakthroughs. Their inventions have improved daily life for hundreds of millions of people all over the world. With $30 billion in sales, 90,000 employees connect with customers all around the world. Scientists, researchers, and marketers work across countries and across subjects to solve challenges big and small. To learn more about 3M (MMM) and to track its ongoing progress please visit the Vista Partners 3M (MMM), Coverage Page.
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