3M Lowers FY18 Adj. Earnings Outlook Range - Quick Facts

(RTTNews) - While reporting its first-quarter financial results today, 3M Co. (MMM) lowered the high end of its fiscal 2018 adjusted earnings as well as local-currency sales growth outlook range.

For fiscal 2018, 3M updated its outlook for reported earnings to a range of $8.68 to $9.03 per share.

Excluding the first quarter impact of the TCJA-related expense and the legal settlement, 3M now expects adjusted full-year 2018 earnings in a range of $10.20 to $10.55 per share versus a prior expectation of $10.20 to $10.70 per share.

On average, analysts polled by Thomson Reuters expect the company to earn $10.54 per share for fiscal 2018. Analysts' estimates typically exclude special items.

The company also updated its organic local-currency sales growth guidance to a range of 3 to 4 percent, versus a prior range of 3 to 5 percent.