ST PAUL, Minn. — 3M Co. today reported first-quarter profit of $1.3 billion.
On a per-share basis, the company said it had profit of $2.26. Earnings, adjusted for non-recurring costs, came to $2.65 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.33 per share.
The maker of Post-it notes, industrial coatings and ceramics posted revenue of $8.83 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $8.74 billion.
3M expects full-year earnings in the range of $10.75 to $11.25 per share.