3M headquarters in St. Paul, Minn., May 2023.
iStock.com/JHVEPhoto
ST. PAUL, Minn. (AP) — 3M Co. on Tuesday reported first-quarter net income of $928 million.
The Minnesota-based company said it had profit of $1.67 per share. Earnings, adjusted for non-recurring costs, were $2.39 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.
The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8 billion in the period.
3M expects full-year earnings in the range of $6.80 to $7.30 per share.
Shares of 3M rose $3.28 to $95.44 in Tuesday trading following the strong first-quarter results.
