3M Co. (MMM) is a consumer goods company known for its personal-protective gear, medical equipment, tapes, and masks.
Much like the rest of the equity markets, MMM tumbled in the early months of 2020. However, since its March lows, the company’s shares have slowly climbed back up.
Part of this was due to a recovery in the broader economy. Yet it’s also thanks to the fact that MMM is exposed to a variety of industries, including consumer goods, health care, industrial, transportation, and electronics.
This enabled the company to increase its annual dividend payout for its 63rd straight year earlier in 2021. It also helped MMM report strong quarterly results all throughout the year.
In fact, back in July, the company reported its second-quarter financials…
MMM said its earnings per share were $2.59 compared to the estimated $2.28. The company also said revenue was $8.95 billion, beating the estimate of $8.53 billion – pushing the company to forecast strong guidance as well.
However, with inflation on the rise, the company’s costs have also increased. Because of this, CFO Monish Patowala at a Morgan Stanley conference said it anticipates a 0.5% to 1.5% hit to its upcoming earnings, weighing on MMM’s shares in the weeks that followed.
Still, MMM’s financials are anticipated to improve in the months ahead. And while rising costs may weigh on the company over the near term, the growth it has experienced across all of its segments this year is unlikely to end anytime soon.
Elon Musk, Mark Cuban & Richard Branson are ALL Piling into This
Sponsored by Jeff Brown
TV “Shark Tank” investor Mark Cuban just doubled down on his investment in this technology…
He says it “will ‘dwarf’ Bitcoin.”
(But it’s not crypto, 5G, robotics, AI, or self-driving cars…)
The famous Billionaire Founder of Virgin, Richard Branson, is invested.
Founder of Twitter Jack Dorsey is invested too.
Not to mention the outspoken CEO of Tesla, Elon Musk — who just announced his investment.
Why are ALL these Billionaires piling into this 1 odd technology?
It’s the same reason the NASDAQ, NYSE…
And 7 out of 10 of the world’s biggest banks are invested.
Because this technology could explode:
- 113 times bigger than the internet…
- 600 times bigger than 5G…
- 1,000 times bigger than cryptocurrencies.
Forbes calls it A ‘Once-In-A-Generation Opportunity’…
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