3M Co. (MMM) Misses Q2 EPS by 2c

3M Co. (NYSE: MMM) reported Q2 EPS of $1.78, $0.02 worse than the analyst estimate of $1.80. Revenue for the quarter came in at $7.2 billion versus the consensus estimate of $7.32 billion.

• Guidance Remains Withdrawn; July 2020 Sales Trends

  Due to the continued evolving and uncertain impact of the COVID-19 pandemic, 3M is not able to estimate the full duration, magnitude and pace of recovery across its diverse end markets with reasonable accuracy. Therefore, 3M continues to believe it is prudent to not provide guidance. The company is seeing broad-based sales improvements across businesses and geographies to start the third quarter. With one week left in July, total company sales are currently up low-single digits year-on-year. 3M will maintain its monthly reporting of sales information during the third-quarter to provide transparency on its ongoing business performance.

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