3M Co. beat analysts fourth-quarter profit estimates as the maker of Post-it notes and Scotch tape cut costs to fight the effects of a strong U.S. dollar.
Earnings fell 8.3 percent to $1.66 a share, including a 14-cent restructuring charge, the St. Paul, Minnesota-based company said Tuesday in a statement. Analysts had expected profit of $1.62 a share, according to the average of 13 estimates compiled by Bloomberg.
We strengthened and focused our portfolio, made significant investments in the business to support growth and made good progress in moving toward a more efficient business model through business transformation and our corporate restructuring, Chief Executive Officer Inge Thulin said in the statement.
The results capped a chall…
Read the full article at: http://www.bloomberg.com/news/articles/2016-01-26/3m-profit-beats-estimates-as-restructuring-combats-strong-dollar