3M Earnings Raise More Questions Than Answers
3M (NYSE: MMM) left investors wondering. It's no secret that the industrial sector has been hit by soaring raw material costs, ongoing supply chain issues, and component shortages. Furthermore, end-market weakness in areas like semiconductors and automotive and the effect of the war in Ukraine have all hit the sector. As a result, many industrial companies have lowered full-year guidance ranges or expectations accordingly. However, 3M wasn't one of them. So is that good or bad news? Here's the lowdown.
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Despite a challenging first quarter and CFO Monish Patolawala noting his caution in the current environment amid disclosing that "We are seeing a slow start to sales in April" during the earnings call, management stuck with its full-year guidance.
Source Fool.com
