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3M +2.2% after Q4 beat, trimming guidance

Published 01/29/2019, 07:25 AM
© Reuters.  3M +2.2% after Q4 beat, trimming guidance
MMM
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JNJ
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  • Adjusted Q4 EPS of $2.31, up 10% Y/Y, though foreign currency translation decreased sales, which were down 0.6% Y/Y to $7.9B.
  • Sales by segment: Industrial -0.3%; Safety and Graphics +0.3%; Healthcare +2.4%; Electronics and Energy -4.5%; Consumer +0.1%.
  • Returned $2.1B to shareholders via dividends and gross share repurchases.
  • Updated outlook for 2019: Earnings are expected to be in the range of $10.45-$10.90 per share (from $10.60-$11.05) reflecting the current external environment, as well as the pending acquisition of the technology business of M*Modal (which was previously excluded from guidance). Organic local-currency sales growth is expected in a range of 1%-4% (from 2%-4%).
  • Conference call here at 9 a.m. ET.
  • MMM +2.2% premarket
  • Q4 results
  • Now read: Buy Johnson & Johnson (NYSE:JNJ) For Safe Increasing Income With Dividend Increase Coming In April


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