3M Co. Q1 adjusted earnings Miss Estimates

(RTTNews) - 3M Co. (MMM) revealed earnings for first quarter that decreased from last year.

The company's profit came in at $0.60 billion, or $0.98 per share. This compares with $1.32 billion, or $2.16 per share, in last year's first quarter.

Excluding items, 3M Co. reported adjusted earnings of $1.53 billion or $2.50 per share for the period.

Analysts had expected the company to earn $2.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $8.28 billion from $7.69 billion last year.

3M Co. earnings at a glance:

-Analysts Estimate: $2.52 -Revenue (Q1): $8.28 Bln vs. $7.69 Bln last year.

-Guidance: Full year EPS guidance: $10.20 to $10.55