Stock futures for the Dow Jones dipped slightly on Tuesday following the release of quarterly earnings reports from major companies like McDonald’s, Coca-Cola, and 3M. While 3M saw a surge in its stock price after beating expectations, McDonald’s experienced a decline in its stock value due to missing earnings estimates, and Coca-Cola saw a slight decrease despite raising its revenue outlook.
McDonald’s reported a 2% increase in earnings to $2.70 per share, with a 5% growth in revenue to $6.17 billion. However, these results fell slightly short of analyst expectations, marking a trend of decelerating earnings growth over the past three quarters.
Coca-Cola, on the other hand, reported a 7% increase in adjusted earnings to 72 cents per share, with a 3% rise in net revenue to $11.3 billion. The company also raised its organic revenue growth outlook for the year, now expecting an 8% to 9% increase.
Meanwhile, 3M saw a significant jump in its stock price after reporting earnings of $2.39 per share, surpassing analyst estimates. The company’s adjusted revenue of $7.72 billion also exceeded expectations, signaling a notable acceleration in earnings growth.
Looking ahead, 3M provided full-year guidance for adjusted organic revenue, expecting it to range from flat to a 2% gain. The company also announced plans to report results from its spun-off health care unit, Solventum, as discontinued operations.
Overall, while McDonald’s and Coca-Cola experienced mixed results in the market, 3M emerged as a standout performer with its strong quarterly performance and optimistic outlook for the year ahead.
