3M Co. Q4 Profit Decreases, misses estimates

(RTTNews) - 3M Co. (MMM) revealed a profit for fourth quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $541 million, or $0.98 per share. This compares with $1.34 billion, or $2.31 per share, in last year's fourth quarter.

Excluding items, 3M Co. reported adjusted earnings of $1.26 billion or $2.28 per share for the period.

Analysts on average had expected the company to earn $2.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.2% to $8.08 billion from $8.61 billion last year.

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

-Earnings (Q4): $541 Mln. vs. $1.34 Bln. last year. -EPS (Q4): $0.98 vs. $2.31 last year. -Analyst Estimates: $2.36 -Revenue (Q4): $8.08 Bln vs. $8.61 Bln last year.