Dow Jones Industrial Average stock 3M jumped early Tuesday after the industry giant reported slightly better-than-expected earnings for the fourth quarter and issued a preliminary 2025 outlook.
The company delivered earnings of $1.68 a share, down 17% vs. a year ago, while revenue declined 24% to $5.81 billion. However, the results topped analyst expectations of $1.66 per share in earnings and sales totaling $5.78 billion. For the full year, the Dow component saw earnings come in at $7.30 a share with sales of $23.63 billion.
"Our fourth quarter capped a year of strong results as we returned to positive organic revenue growth in the full year," Chief Executive William Brown said in the earnings release Tuesday.
"We are carrying this momentum forward and are confident in our ability to deliver our 2025 guidance," Brown added.
3M Stock: Growth Prospects For 2025
The broadly diversified maker of industrial, medical and other products also outlined its initial outlook for 2025 on Tuesday. The company expects sales growth in the range of 0.5%-1.5% and per-share earnings between $7.60-$7.90. The Dow Jones component also predicts operating cash flow of $5.2-$5.3 billion in 2024.
Analysts predict 3M earnings of $7.78 per share in 2025 with sales growing 2% to $24.03 billion, according to FactSet.
Shares of 3M jumped 4.2% to 146.91 during market action on Tuesday, breaking out above a traditional 141.34 buy point from a flat base pattern, according to MarketSurge charts. The Dow stock jumped 7.5% to 141.03 last week. Thus far in January, 3M is up nearly 14%.
Shares of 3M hold an 84 Composite Rating out of 99. Additionally, the Dow stock has an 89 Relative Strength Rating and an EPS Rating of 80.
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