3M (NYSE: MMM) reported Q1 2020 earnings results today.

3M Company reports Q1 2020 earnings results

Sales rose 2.7% year-over-year to $8.1 billion. On a GAAP basis, earnings grew 47% to $2.22 per share compared to last year. Adjusted EPS fell 2.7% year-over-year to $2.16.

Due to the uncertainty surrounding the COVID-19 outbreak, 3M is not able to estimate the pace of recovery accurately across its markets. Therefore the company has withdrawn its full-year 2020 guidance which was provided in January.

The company also said it will begin reporting monthly sales information starting in May to provide transparency on its ongoing business performance.

Past Performance

3M Company (MMM) Q3 2019 Earnings Review