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3M (NYSE:MMM) is scheduled to announce Q4 earnings results on Tuesday, January 24th, before market open.
The consensus EPS Estimate is $2.39 (+3.5% Y/Y) and the consensus Revenue Estimate is $8.09B (-6.0% Y/Y).
Over the last 3 months, EPS estimates have seen 2 upward revisions and 12 downward. Revenue estimates have seen 0 upward revisions and 10 downward.
3M has suggested incremental weakness on the consumer side for most of Q4, with slower demand in healthcare and consumer electronics.
In a preview ahead of results, Wells Fargo said it expects headwind from disposable respirators and food safety, although the bottom line may benefit from lower costs tied to improving supply chain performance.
For the year ahead, lawsuit risks are a key pressure point for 3M according to Ironside Research. 3M has failed all attempts so far to shield itself from earplug-related litigation. As a result, shares have fallen around -29% in the past year.
Most recently a federal judge halted court-sponsored mediation talks between 3M (MMM) and plaintiffs who claim that earplugs a company unit made for the U.S. military were defective.
Yet current macroeconomic conditions are unlikely to shake 3M too much in 2023 according to one recent SA contributor analysis. The company has shown above-average resilience in the past to such events, as it is not overly reliant on one product or product category.
Over the last 2 years, 3M has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.
