3M Lifts Outlook After Q3 Update as Shares Hit Record High

Overview

• The company raised full-year EPS guidance to $7.95–$8.05 and now expects total sales to surpass its prior 2.5% target, implying adjusted organic growth above 2%.
• Third-quarter net sales rose 3.5% to $6.517 billion, while net income fell 39% to $834 million year over year.
• The stock jumped 7.66% to close at $166.64 after touching an intraday high of $166.82.
• Executives and commentators pointed to renewed innovation, with 70 product launches in Q3 and 196 year to date.
• For the first nine months, revenue increased 1.3% to $18.8 billion as net income declined 22% to $2.673 billion, underscoring ongoing profitability pressures.