3M Reports $6.8B Loss

A pre-tax charge related to a settlement over "forever chemicals" dented the company's earnings.

I Stock 1044326658

ST PAUL, Minn. (AP) — 3M Co. on Tuesday reported a loss of $6.84 billion in its second quarter.

The Minnesota-based company said it had a loss of $12.35 per share. Earnings, adjusted for non-recurring costs, came to $2.17 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.

The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8.32 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $7.95 billion.

3M expects full-year earnings in the range of $8.60 to $9.10 per share.

More in Earnings