3M cuts full-year earnings outlook, cites continued slow growth of global economy

December 15, 2015 - 5:02 AM

ST. PAUL, Minn. - 3M is lowering its full-year earnings forecast, citing continued slow growth of the global economy.

While the Federal Reserve is expected to boost interest rates Wednesday, inflation remains low due to global economic weakness, falling energy prices and a strong dollar.

The maker of Post-it notes, industrial coatings and ceramics said Tuesday that it now anticipates 2015 earnings of about $7.55 per share. Its prior guidance was for earnings in a range of $7.60 to $7.65 per share.

Analysts surveyed by FactSet predict full-year earnings of $7.66 per share.

Looking further ahead, 3M Co. foresees 2016 earnings between $8.10 and $8.45 per share. Wall Street is looking for earnings of $8.41 per share.

3M said in October that it planned to cut up to 1,500 jobs as part of a restructuring plan.

News from © The Associated Press, 2015

More News ...

JONESIE: Why Reid Hamer-Jackson can't fight city hall
OPINION I don’t live in Kamloops. Mayor Reid Hamer-Jackson’s antics have no effect on me personally, so allow me to be a bit more philosophical about it. I want to like the guy, more for what he could represent than wh

Fruit packers near Kelowna fined another $78,000
A fruit packing plant in the Ellison area east of Kelowna was hit with another $78,368 in fines for discharging effluent into a failed septic field. That’s now more than $110,000 in fines since 2022 for the same issue at Sandher Fruit

Penticton business set to launch cannabis consumption patio on 4/20
A Penticton cannabis retailer will be opening its consumption patio this weekend and the owner says it'll be the perfect spot for customers to safely enjoy a toke. Cannabis Cottage is hosting a launch party for its all-new designat

Thousands of short-term rentals in B.C. go back to long-term May 1
LANGLEY, B.C. - British Columbia Premier David Eby is warning real estate investors and speculators that his government is tilting the rules towards families seeking homes as it tightens the rules on short-term rentals. Eby said Thursday th

Popular kelowna News

How Kamloops councillors and staff have leashed the mayor
A workplace investigation into the mayor of Kamloops and how he treats staff was so secret that the City wouldn't even acknowledge its existence. Then he handed it to reporters. Re
April 18, 2024 7:00 AM
Lemonade stand sparks overwhelming support for Kamloops family
The old adage “when life gives you lemons, make lemonade” never made more sense for a mother of three in Kamloops. Cara English’s daughter set up a lemonade stand to raise
April 17, 2024 7:00 AM
Fruit packers near Kelowna fined another $78,000
A fruit packing plant in the Ellison area east of Kelowna was hit with another $78,368 in fines for discharging effluent into a failed septic field. That’s now more than $110,000 in fi
April 18, 2024 6:00 PM
North Okanagan murder suspect tried to return to family home after release: daughter
Family of North Okanagan woman Tatjana Stefanski, who was found dead yesterday and presumed murdered, say they are dealing with grief, but also some fear and anger. In a social media post, h
April 16, 2024 1:34 PM
UPDATE: Weapons call prompts heavy police response in downtown Kamloops
Heavily-armed cops made an arrest at a downtown Kamloops motel this afternoon. RCMP were called to Canada's Best Value Inn today, April 17, where a damaged red Dodge Ram was under superv
April 17, 2024 2:02 PM

Trending Now

TRENDING NOW: Bears check out the human exhibit

View Site in: Desktop | Mobile

3M cuts full-year earnings outlook, cites continued slow growth of global economy

Trending Now

Kamloops

Kelowna

Penticton

Vernon