Why The 3M Stock Fell 6.25% (MMM)

By Amit Chowdhry ● Jan 25, 2023
  • The stock price of 3M (MMM) fell by 6.25% in the most recent trading session. This is why.

The stock price of 3M (MMM) fell by 6.25% in the most recent trading session.

Why: Q4 results

Results: 3M reported a Q4 EPS of $2.28, which was $0.09 lower than analyst estimates of $2.37. And the revenue for the quarter was $8.1 billion compared to the consensus estimate of $8.06 billion. The company is also reducing about 2,500 global manufacturing roles.

Guidance: 3M estimates a FY2023 EPS of $8.50 to $9 compared to the consensus of $10.22.