3M (MMM) closed at $131.73 on Tuesday, 2.3% lower on the day.
The Minnesota-based company reported fiscal Q3 earnings on Tuesday morning. 3M earned $1.98 in adjusted EPS on $6.1 billion in revenue. This bested consensus by $0.08 on EPS and $40 million on revenue.
3M’s stock price has increased 20.5% so far this year, more than the 13.9% advance registered by the overall Dow Jones Industrial Average (DJIA) index.
On Tuesday, the DJIA fell by -0.02% to close at 42,924.9 points. The three leaders were Microsoft (MSFT), Walmart (WMT) and Amgen (AMGN), while the three laggards were McDonald’s (MCD), Verizon (VZ) and 3M (MMM).
Back to 3M, its previous earnings report from fiscal Q2 showed that earnings per share (EPS) were at $1.90. Revenue, meanwhile, stood at $6.3 billion.
(An automation tool was used in creating this post.)
Source: https://www.fxstreet.com/news/3m-stock-closes-23-lower-on-tuesday-202410222113