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3M Reports Strong Q12021 Earnings – Sees Higher Costs

By John F. Heerdink, Jr.

Reportedly, 3M (MMM) posted strong profit and revenue estimates in the first quarter, as more and more people bought products to prevent potential coronavirus infections i.e. 3M’s N95 masks and general cleaning equipment. Sales for the safety and industrial unit increased 13.7% to $3.3 billion for the quarter ending March 31. Net income increased by 24.2% to $1.62 billion, or $2.77 per share, from a year earlier and above analyst estimates of $2.29 per share. Net sales were up by 9.6% to $8.85 billion, ahead of Wall Street estimates of $8.47 billion.

“Global economic recovery remains uneven and fluid as COVID-19, vaccination deployments and government policies continue to evolve,” the company said in a statement.

The company expects a raw materials & logistics charge between 30 cents and 50 cents per share in 2021 compared to its prior forecast of flat to a 10 cent hit.

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.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: 3M warns of higher costs due to supply chain disruptions in Reuters)


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