3M Co. (NYSE:MMM) has said it is on track for 2017 revenue growth at the “top-half” of its guidance range of 4% to 5% and for earnings per share of US$9.00 to US$9.10.
The industrial and consumer products company’s chief executive Inge Thulin gave the forecast at its annual analyst and investors gathering in New York on Tuesday.
READ: 3M to offload most of its communication markets operations to Corning for US$900mln
Thulin is expected to deliver updates on the group’s investments in its priority growth platforms, including auto electrification, air quality and personal safety.
The comments come a day 3M announced plans to sell of "substantially all" of its communication markets division for US$900mln to Corning Inc. (NYSE:GLE).
Current consensus forecasts 3M are for revenue of US$31.49bn, which implies 4.6% growth from a year ago, while the EPS consensus is US$9.06.
For 2018, 3M expects net EPS of $9.60 to $10.00, compared with the consensus forecast of $9.70, and total sales growth of 5% to 7%, with the consensus estimate at 5.3%.
In pre-market New York trading, 3M shares were 1.2% higher at US$242.25.