U.S. consumer goods company 3M (MMM) has reported first-quarter financial results that were largely inline with Wall Street’s expectations and warned of potential impacts to its business from tariffs.
The maker of Post-it Notes and Scotch Tape reported earnings per share (EPS) of $1.88 U.S., which topped the $1.77 U.S. consensus expectation of analysts who cover the company.
Revenue in the January through March quarter totaled $5.8 billion U.S., which matched Wall Street’s forecast. Sales were up 1% from a year earlier.
In terms of guidance, 3M maintained its full-year outlook that calls for earnings of $7.60 U.S. to $7.90 U.S. a share.
However, management said that tariffs could impact its earnings forecast by $0.20 U.S. to $0.40 U.S. per share, depending on the severity and length of the duties.
Analysts had been expecting full-year earnings from 3M of $7.74 U.S. a share.
The St. Paul, Minnesota-based company said that uncertainty on the economic front and in financial markets could weigh on its outlook moving forward.
“In this dynamic environment we remain focused on improving the fundamentals in the business, building a new performance culture and advancing our strategic priorities,” said 3M in its earnings release.
The stock of 3M is up 7% in premarket trading following its Q1 financial results being made public.
Prior to today (April 22), the company’s share price had declined 3% on the year to trade at $126.09 U.S.