Unlocking Q3 Potential of 3M (MMM): Exploring Wall Street Estimates for Key Metrics

Wall Street analysts forecast that 3M (MMM) will report quarterly earnings of $2.10 per share in its upcoming release, pointing to a year-over-year increase of 6.1%. It is anticipated that revenues will amount to $6.25 billion, exhibiting a decrease of 0.7% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 0.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.Given this perspective, it's time to examine the average forecasts of specific 3M metrics that are routinely monitored and predicted by Wall Street analysts.It is projected by analysts that the 'Net Sales- Safety and Industrial' will reach $2.90 billion. The estimate indicates a year-over-year change of +4.8%.Based on the collective assessment of analysts, 'Net Sales- Corporate and Unallocated' should arrive at $86.00 million. The estimate suggests a change of +6.2% year over year.The collective assessment of analysts points to an estimated 'Net Sales- Consumer' of $1.31 billion. The estimate indicates a year-over-year change of +0.8%.According to the collective judgment of analysts, 'Operating Income (non-GAAP measures)- Consumer' should come in at $269.96 million. Compared to the present estimate, the company reported $263.00 million in the same quarter last year.The combined assessment of analysts suggests that 'Operating Income (non-GAAP measures)- Transportation and Electronics' will likely reach $461.65 million. The estimate compares to the year-ago value of $470.00 million.Analysts expect 'Operating Income (non-GAAP measures)- Safety and Industrial' to come in at $729.60 million. The estimate is in contrast to the year-ago figure of $672.00 million. View all Key Company Metrics for 3M here>>> Over the past month, shares of 3M have returned -1.1% versus the Zacks S&P 500 composite's +0.9% change. Currently, MMM carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report 3M Company (MMM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks