3M Trims FY22 Outlook Range - Update

(RTTNews) - While reporting financial results for the third quarter on Tuesday, 3M Co. (MMM) trimmed its earnings, sales and organic sales growth outlook range for the full-year 2022, to reflect the continued strengthening of the U.S. dollar and the uncertain macroeconomic environment.

For fiscal 2022, the company now projects adjusted earnings in a range of $10.10 to $10.35 per share on a sales decline of 3.5 to 3.0 percent, with organic sales growth of 1.5 to 2.0 percent.

Previously, the company the company expected adjusted earnings in the range of $10.30 to $10.80 per share on a sales decline of 2.5 to 0.5 percent, with organic sales growth of 1.5 to 3.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.29 per share on a net sales decline of 1.9 percent to $34.68 billion for the year. Analysts' estimates typically exclude special items.