3M Co. (MMM) recently reported fourth-quarter earnings of $1.30 per share, topping last year’s 97 cents and beating the Zacks Consensus Estimate by 7%. Sales of $6.1 billion came in ahead of the previous year’s $5.5 billion.

Company Description

3M produces thousands of innovative products for dozens of diverse markets. The company’s core strength is applying its more than 40 distinct technology platforms, often in combination, to a wide array of customer needs. With $23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries. 3M operates in six segments: Industrial and Transportation; Health Care; Safety, Security and Protection Services; Consumer and Office; Display and Graphics; and Electro and Communications.

Stellar Results

The company recently reported fourth-quarter earnings of $1.30 per share, topping last year’s 97 cents and beating the Zacks Consensus Estimate by 7%. Sales of $6.1 billion came in ahead of the previous year’s $5.5 billion.

Management said the company delivered tremendous results while continuing to invest significantly in its future with R&D investments of $1.3 billion and capital investments topping $900 million, adding that the company posted a 21.7% operating margin for the year, equal to 2008 levels, which is a tremendous achievement in the midst of the worst recession since early last century.

Higher Forecasts

3M boosted its 2010 earnings guidance to a range of $4.90 to $5.10 from the previous range of $4.85 to $5.00.

Analysts polled by Zacks are in agreement as evidenced by the current 2010 earnings estimate of $5.10 per share, versus last week’s forecast of $5.06.

For 2011, the Zacks Consensus Estimate of $5.67 per share climbed from last week’s $5.60.

Favorable comparisons

The company offers a return on equity (ROE) of 28%, soaring past the industry average of 11%. The company’s net profit margin of 14% is ahead of the industry’s 7%. 3M pays a dividend yield of 2.5%, topping the industry average of 1.6%.

Shares of MMM nearly doubled the market’s performance over the past year.

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