3M cuts full-year earnings guidance

Citing the continued slow-growth global economy, 3M on Tuesday lowered its 2015 earnings outlook.

Shares of 3M moved lower in premarket trading following the announcement. (Get the latest quote here.)

The company said it now expects full-year growth of about 1 percent, compared with previous guidance of 1.5 to 2 percent.

Earnings per share is expected to be approximately $7.55, down from the prior range of $7.60 to $7.65.

For 2016, 3M said it sees earnings per share of $8.10 to $8.45, an increase of 7 percent to 12 percent. Sales growth is expected to be 1 percent to 3 percent.

"We remain committed to executing our playbook, controlling the controllable, and making investments for long-term success," Inge Thulin, chairman, president, and CEO, said in a statement. "We are building our company for efficient growth in 2016 and beyond."