Investing.com - 3M (NYSE:MMM) reported third quarter earnings that missed analyst's expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $2.58 on revenue of $8.15bn. Analysts polled by Investing.com expected EPS of $2.72 on revenue of $8.45bn. That compared to EPS of $2.33 on revenue of $8.17bn in the same period a year earlier. The company had reported EPS of $2.59 on revenue of $8.39bn in the previous quarter.
3M shares lost 5.00% to trade at $191.29 in pre-market trade following the report.
For the year, 3M shares are down 18.69%, under-performing the S&P Global 100 which is down 0.25% year to date.
3M follows other major Capital Goods sector earnings this month
On Friday, Honeywell (NYSE:HON) reported third quarter EPS of $2.03 on revenue of $10.76bn, compared to forecasts of EPS of $1.99 on revenue of $10.75bn.
United Technologies (NYSE:UTX) earnings missed analyst's expectations on Tuesday, with third quarter EPS of $1.54 on revenue of $16.51bn. Investing.com analysts expected EPS of $1.82 on revenue of $16.15bn.
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