Before the market open on Tuesday, the diversified technology company reported earnings of $1.80 per share, which surpassed analysts' estimates for earnings of $1.63 per share.
Revenue dropped by 5.4% year-over-year to $7.3 billion, higher than analysts' forecasts for revenue of $7.21 billion. Foreign currency translation lowered sales by 5.8%, according to 3M.
Sales in 3M's Health Care division grew by 4.5% and sales in the company's Consumer division climbed by 2.7%.
"The fourth quarter capped off a year of disciplined execution from our global team with solid margin and cash flow performance," CEO Inge Thulin said in a statement. "Throughout 2015 we controlled the controllable, while investing in the business and also returning significant cash to shareholders."
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of A-. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: MMM