3M Says 4Q Net Rose 3.9 Percent
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MINNEAPOLIS (AP) — 3M, which makes Post-it notes, industrial products, and construction materials, says its fourth-quarter net income rose 3.9 percent as growing profits in health care and consumer goods offset declines in other areas.
3M Co.’s businesses cover a wide range of industries and it gets its sales from all over the globe, so its results are a closely-watched economic bellwether.
The Maplewood, Minnesota-based company earned $991 million, or $1.41 per share, for the quarter that ended Dec. 31. That matched analysts’ expectations. A year ago it earned $954 million, or $1.35 per share.
Revenue rose 4 percent to $7.39 billion. Analysts expected $7.17 billion.
The company affirmed its 2013 profit guidance of $6.70 to $6.95 per share. Analysts expect $6.86 per share.
Its shares rose 51 cents to $100 in premarket trading.
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