3M Sees Higher 2011 Profits, Sales

3M said Tuesday it expects to earn $6.17 to $6.37 a share, excluding pension expenses, in 2011.
By Joseph Woelfel ,

ST. PAUL, Minnesota (

TheStreet

) --

3M

(MMM) - Get Report

said Tuesday it expects to earn $6.17 to $6.37 a share, excluding pension expenses, in 2011.

Analysts surveyed by Thomson Reuters expect 3M to earn $6.20 a share in 2011.

3M continues to expect 2010 earnings of $5.70 to $5.74 a share, excluding certain Medicare charges. Analysts see earnings of $5.73 a share.

3M said it expects 2011 sales of $29 billion to $30.5 billion, with organic sales volumes growing 5.5% to 7.5%. Analysts forecast 2011 sales of $29.15 billion.

The company is holding an analysts' meeting in New York later Tuesday.

3M said it will highlight its continuing commitment to growing its core businesses and expanding in developing markets.

Developing markets represent one-third of 3M sales currently and likely will reach 45% by 2015, 3M said.

-- Written by Joseph Woelfel

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