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3M Posts Big Earnings Beat Following Recent Legal Settlements

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Investors have reacted to 3M's flurry of announcements by essentially avoiding the stock.

There is a lot going on a 3M these days, including some big legal settlements. Investors and Wall Street have reacted by essentially avoiding the stock. 3M could change investor sentiment when it reports third-quarter earnings Tuesday morning.

Coming out of the second-quarter report, 3M was expected to generate full-year earnings per share of between $8.60 and $9.10. That left between $4.46 and $4.96 a share for the second half of 2023, up from the $4.14 reported in the first half. Since the end of the second quarter, 3M agreed to settle claims related to potentially faulty earplugs sold to the government for about $6 billion. That settlement, along with a June settlement related to chemicals produced by 3M and others that were found in groundwater, has led to a couple of Wall Street upgrades.

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