3M shares jumped in early trading on Tuesday after the company reported second-quarter results that beat Wall Street expectations and raised its outlook for the year.
The company posted earnings of $2.40 per share on $6.5 billion in sales, beating estimates of $2.25 per share and $6.4 billion in sales. A year ago, 3M earned $2.16 per share on $6.2 billion in sales.
Comparable sales rose 5.4% from a year earlier, up from 1.2% growth in the first quarter. CEO William Brown said the company had a strong quarter that beat expectations, with mid-single-digit sales growth, operating margins close to 25%, and double-digit earnings growth showing progress on its main goals.
For the full year, 3M now expects earnings of $8.80 to $8.95 per share on about $25.4 billion in sales. This is higher than its previous forecast of $8.50 to $8.70 per share on around $25.3 billion in sales from April. Wall Street had expected $8.74 per share on $25.1 billion in sales.
Bernstein called the quarter strong, noting solid growth in sales tied to industrial markets. Investors seemed to agree, as shares rose 9.6% in early trading, beating gains in the S&P 500 and Dow Jones Industrial Average.
Before Tuesday, 3M stock was down about 1% for the year, as investors were cautious after the company’s 2026 guidance in January missed Wall Street’s expectations and caused shares to drop on January 20. The stock had struggled since then, so Tuesday’s strong results marked a positive change in sentiment.
