3M Beats Expectations for Q2

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ST. PAUL, Minn. (AP) — 3M Co. on Tuesday reported a second-quarter profit of $78 million.

On a per-share basis, the Minnesota-based company said it had profit of $0.14 . Earnings, adjusted for non-recurring costs, were $2.48 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.

The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8.7 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $8.56 billion.

3M expects full-year earnings in the range of $10.30 to $10.80 per share.

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