3M stock tanks after quarterly profit beat forecasts but full-year outlook was well below

Shares of 3M Co. MMM, +0.24% tanked 6.2% in premarket trading Tuesday, after the consumer, industrial and healthcare-products company reported fourth-quarter profit that rose above expectations but provided a 2024 outlook that was well below forecasts. Net earnings per share rose to $1.70 from 98 cents a year ago. Excluding nonrecurring items, such as litigation costs and other special items, adjusted EPS rose to $2.42 from $2.18 to beat the FactSet consensus of $2.31. Total sales fell 0.8% to $8.01 billio ...