3M Co. Q2 Profit Decreases, but beats estimates

(RTTNews) - 3M Co. (MMM) reported earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $78 million, or $0.14 per share. This compares with $1.52 billion, or $2.59 per share, in last year's second quarter.

Excluding items, 3M Co. reported adjusted earnings of $1.42 billion or $2.48 per share for the period.

Analysts on average had expected the company to earn $2.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.8% to $8.70 billion from $8.95 billion last year.

3M Co. earnings at a glance (GAAP) :

-Earnings (Q2): $78 Mln. vs. $1.52 Bln. last year. -EPS (Q2): $0.14 vs. $2.59 last year. -Analyst Estimates: $2.45 -Revenue (Q2): $8.70 Bln vs. $8.95 Bln last year.

-Guidance: Full year EPS guidance: $10.30 to $10.80