Investing.com - U.S. multinational conglomerate 3M reported worse-than-expected first-quarter earnings ahead of Thursday’s opening bell, prompting the company to lower its full-year outlook.
Earlier in the day, in its first-quarter earnings report, 3M said earnings per share came in at USD1.61, below expectations for USD1.65 per share.
The company’s first-quarter revenue totaled USD7.63 billion, missing forecasts for revenue of USD7.81 billion.
3M lowered its range for full-year earnings per share to USD6.60 to USD6.85, compared to an initial estimate in the range of USD6.70 to USD6.95 per share.
Following the release of the report, shares in MMM tumbled 4% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was higher. The Dow Jones Industrial Average futures indicated a gain of 0.3% at the open, S&P 500 futures pointed to a rise of 0.4% and Nasdaq 100 futures indicated an increase of 0.5%.
Earlier in the day, in its first-quarter earnings report, 3M said earnings per share came in at USD1.61, below expectations for USD1.65 per share.
The company’s first-quarter revenue totaled USD7.63 billion, missing forecasts for revenue of USD7.81 billion.
3M lowered its range for full-year earnings per share to USD6.60 to USD6.85, compared to an initial estimate in the range of USD6.70 to USD6.95 per share.
Following the release of the report, shares in MMM tumbled 4% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was higher. The Dow Jones Industrial Average futures indicated a gain of 0.3% at the open, S&P 500 futures pointed to a rise of 0.4% and Nasdaq 100 futures indicated an increase of 0.5%.