3M Beats Estimates by a Penny - TheStreet

3M

(MMM) - Get Report

posted third-quarter earnings of $1.25 a share, a penny better than the eight-analyst estimate and up from year-ago earnings of $1.13 a share.

Sales rose to $4.25 billion from about $4 billion in the year-ago period. The company's sales increase was in part due to its expanded product line in the Asia-Pacific region.

"We have good momentum and we expect to meet earnings expectations for the fourth quarter and next year," Chairman and Chief Executive LD DeSimone said in a statement. "We're confident in our ability to continue to deliver solid, consistent earnings growth."

For the fourth quarter, analysts expect the company to earn $1.21 a share, while Wall Street is looking for earnings of $5.27 a share for next year.