Quarterly Results Caused Shares of 3M Co (MMM), General Electric (GE) To Rise, While Archer-Daniels (ADM) Drop

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On Tuesday, shares of 3M Company (MMM) improved by +3.26% to $175.95 after releasing quarterly results. Thanks in part to Covid-19 safety products (masks and filters), the Minnesota manufacturing giant posted better-than-expected fourth-quarter results. Guidance is solid for the fiscal year 2021, with the group considering an EPS of $9.20 to $9.70, versus a $9.5 estimate. It is estimated that industrial free cash flow in 2021 will be between $2.5 billion and $4.5 billion. In the last year, the company generated revenues of $8.6 billion, an increase of 6 percent, with an organic increase of 5.5 percent. At $2.38, adjusted EPS and GAAP came out.

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General Electric Company (GE) improved +2.73% to $11.29 on the day. The fourth-quarter earnings consensus was missed by the electric giant, but the industrial and financial group is optimistic for 2021 and predicts good industrial cash flow, ranging from $2.5 billion to $4.5 billion. GE has restored from 15 cents to 25 cents its annual adjusted earnings per share guidance.

Quarterly net earnings of $2.44 billion or $2.27 per share were posted by the diversified corporation, relative to $538 million in income a year ago. Adjusted EPS was 8 cents from a consensus of 9 cents, down 60 percent. The quarterly free cash flow, on the other hand, met forecasts, as the company benefited from a rebound in energy operations. For the three months concluded, Industrial free cash flow was $4.4 billion, way above the ‘over $2.5 billion’ estimate by CEO Larry Culp. This industrial FCF has been optimistic over the course of the year.

Archer-Daniels-Midland Company (ADM) fell -1.71% to $52.18. The U.S. human and animal nutrition company posted a net income of $687 million in the fourth quarter, or $1.22 per share, relative to $504 million a year ago. In contrast to $1.10 on the FactSet consensus, adjusted earnings per share are $1.21. Operating profit and EPS 2021 growth are projected by the company.