ST PAUL, Minn. — 3M Co. today reported fourth-quarter profit of $1.39 billion.
On a per-share basis, the company said it had profit of $2.38.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8.58 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $8.49 billion.
3M expects full-year earnings to be $9.20 to $9.70 per share.
3M shares have decreased 2.5% since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 3%. The stock has declined 4% in the past 12 months.