Connect with us

Hi, what are you looking for?

Stock

3M raises lower end of full-year adjusted profit forecast on demand recovery

(Reuters) -U.S. industrial conglomerate 3M Co raised the lower end of its full-year adjusted profit forecast on Tuesday, anticipating a boost in consumer spending after the Federal Reserve cut borrowing costs in September.

Shares of the company were up 4% at $140.3 in premarket trading.

The Post-it maker also reported an about 18% rise in quarterly profit as cost cuts offset the impact from slow sales in its consumer business.

It reported an adjusted profit of $1.98 per share for the third quarter, compared with $1.68 per share a year earlier.

The St. Paul, Minnesota-based company now expects its full-year adjusted profit to be between $7.20 and $7.30 per share, compared with its previous forecast of $7.00 to $7.30 per share.

This post appeared first on investing.com






    You May Also Like

    Editor's Pick

    Sen. JD Vance (R-Ohio) and Minnesota Gov. Tim Walz (D) will face off Tuesday night at a CBS News vice-presidential debate in New York....

    Latest News

    A North Korean defector who escaped to the South more than a decade ago was detained after attempting to cross back into North Korea...

    Economy

    A U.N. human rights group confirmed Hamas’ leader in Lebanon, who was recently killed by Israeli strikes, was their employee.  Fateh Sherif was killed...

    Investing

    Astron (ASX:ATR) and Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) have completed the establishment of a joint venture to advance the Australia-based Donald rare earths and mineral sands...

    Disclaimer: balanceandcharge.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 balanceandcharge.com