3M beats in Q3, delivers gain in free cash flow

Yep, that's not so good. Sequentially, however, 3M experienced an expansion in not only sales and per-share profit, but in operating margin as well.

And let's mention the money the business brought in over the past nine months. Cash from operations was up, and capital expenditures were down. The result? A very attractive increase in free cash flow. This metric also jumped during the third quarter itself.

Oh, and what about expectations and guidance? They're covered, too. According to the Closing Bell piece on Thursday, the market wanted 3M to do only $1.17 per share. And the forecast for the full fiscal year received a raise.

Good job, 3M management. You did well, and you should hopefully do better as time goes on. 3M has successfully retained its reputation as a safe blue-chip equity. It pays a good dividend, and it's got the cash flow to back the payment up. The stock is near a 52-week high, so you could argue that it's already made its move. Then again, this is the type of investment idea you ease into gradually over months, even years. It's not really a trading vehicle for most. Instead, it's an iconic business which should grow steadily in the future.

Disclosure: I don't own any company mentioned; positions can change without notice.