3 Biggest Takeaways From 3M's First Quarter
3M (NYSE: MMM) has consistently hit the headlines since the coronavirus outbreak, but for the right reasons. As a leading manufacturer of critical N95 respirator masks, 3M has rapidly scaled up global mask production in recent weeks, supplying them to healthcare workers and the federal government.
So when 3M's first-quarter earnings were set for release on April 28, investors weren't sure what to expect. On the one hand, the COVID-19 pandemic has hit manufacturing companies hard. On the other, prospects of higher revenue from mask production offsetting weakness elsewhere aroused hopes of a not-so-bad quarter from the industrials conglomerate.
3M didn't disappoint. Its personal safety business, which includes respiratory products, was among the few bright spots and contributed almost 12.3% to 3M's total Q1 revenue. While 3M withdrew its 2020 guidance, the three biggest takeaways for investors from the report are:
Source Fool.com
