Wall Street is eager to pore over 3M's first-quarter earnings amid the Covid-19 outbreak and historic demand for N95 masks.
Analysts and investors await an update from 3M CEO Mike Roman on its efforts to producer key N95 respirator masks amid the global Covid-19 outbreak.
A customer holds boxes of 3M Co. 8247 R95 particulate respirators at a pharmacy in the Central district of Hong Kong, China, on Thursday, Jan. 23, 2020.is scheduled to report first-quarter earnings before the market open on Tuesday. Wall Street is anticipating earnings per share of $2.03 on revenue of $7.91 billion, based on Refinitiv consensus estimates. However, it's difficult to compare reported earnings to analyst estimates for 3M's first quarter as the impact of the coronavirus is tricky to model precisely in financial forecasts.
"Our revenue assumption sits 2% below the street, as we model a 5% organic decline, below management guidance for flattish results," she wrote. "Note that this does incorporate ~$80m estimated incremental revenue from the N95 mask production ramp."
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