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Topic: Blue Chip Stocks

Large cap stocks: Record revenue, strong earnings for 3M

3M Company, New York symbol MMM, makes over 55,000 consumer and industrial products, including Post-it notes, Scotch tape, Scotch-Brite cleaning products, Scotchguard fabric protection and Thinsulate insulation.

3M is one of the large cap stocks we analyze in Wall Street Stock Forecaster, our newsletter that recommends stocks for the part of your portfolio you devote to U.S. investments.

In the three months ended June 30, 2011, the large cap stock’s revenue rose 14.1%, to a record $7.7 billion from $6.7 billion a year earlier. Sales increased in all regions, and in five of the company’s six divisions. Sales volumes rose 3.2%, and selling prices gained 0.8%. The company made a number of acquisitions during the quarter. These new assets supplied 4.0% of its sales growth. Foreign-exchange gains added 6.1%.

Earnings rose 3.5%, to $1.16 billion, or $1.60 a share, from $1.12 billion, or $1.54 a share. Disruptions caused by the Japanese earthquake in March cut 3M’s per-share earnings by $0.07. Still, the latest earnings matched the consensus estimate.

We updated our advice on 3M in our July 29, 2011, Wall Street Stock Forecaster hotline, which you can immediately view when you take a 1-month free trial to Wall Street Stock Forecaster. Click here to get started right away.

(Note: If you are a current Wall Street Stock Forecaster subscriber, please click here to view Pat’s recommendation. Be sure to log in first.)

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