3M maintains 2009 profit outlook, but 2010 forecast misses Wall Street estimates
By APTuesday, December 8, 2009
3M keeps ‘09 outlook, but ‘10 view misses Street
ST. PAUL, Minn. — 3M says its forecast for profit growth of 11 percent in 2009 remains unchanged, but its prediction for 2010 is below analyst estimates.
The manufacturing conglomerate predicts full-year 2009 income of $4.50 per share to $4.55 per share, excluding special items.
Analysts, who typically exclude special items from their estimates, predict income of $4.57 per share for the year.
For 2010, 3M forecast earnings between $4.85 per share and $5 per share, on sales between $24.5 billion and $25.5 billion.
Analysts predict income of $4.94 per share in 2010.
3M is based in St. Paul, Minn.
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