Countdown to 3M (MMM) Q4 Earnings: A Look at Estimates Beyond Revenue and EPS

Core Insights - Analysts project that 3M (MMM) will report quarterly earnings of $1.66 per share, reflecting a year-over-year decline of 31.4% [1] - Revenue is expected to reach $5.79 billion, down 27.7% from the same quarter last year [1] Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 4.5%, indicating a collective reassessment by analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [3] Key Metrics Projections - Estimated 'Net Sales- Safety and Industrial' is projected at $2.67 billion, showing a year-over-year increase of 0.4% [5] - 'Net Sales- Consumer' is expected to reach $1.24 billion, reflecting a 0.9% increase from the prior-year quarter [5] - 'Net Sales- Transportation and Electronics' is forecasted at $1.79 billion, indicating a year-over-year change of 1.1% [5] Operating Income Estimates - 'Operating Income (non-GAAP measures)- Consumer' is expected to be $217.98 million, slightly down from $221 million a year ago [6] - 'Operating Income (non-GAAP measures)- Transportation and Electronics' is forecasted at $389.67 million, compared to $370 million from the previous year [6] - 'Operating Income (non-GAAP measures)- Safety and Industrial' is projected to reach $570.25 million, up from $524 million a year ago [7] Stock Performance - 3M shares have increased by 7.2% over the past month, contrasting with the Zacks S&P 500 composite's decline of 3.3% [7] - With a Zacks Rank of 4 (Sell), 3M is expected to underperform the overall market in the near term [7]