3M (MMM) led the Dow Jones Industrial Average early Tuesday as the Post-it notes maker posted better-than-expected Q2 results and raised its full-year outlook. MMM stock cleared an early entry buy point.
The industrial conglomerate has been shedding noncore ***** ets and leveraging AI to accelerate product launches. 3M said it's on track to launch more than 350 new products this year and 1,000 by the end of 2027. The company said last week that its new expanded beam optics technology for data centers is being deployed by Microsoft Azure.
Results: Adjusted earnings per share grew 11% to $2.40, 15 cents ahead of forecasts. Operating profit rose 40 basis points from a year ago to 24.9%. Sales rose 5.6% to $6.5 billion, as comparable sales growth (excluding divestitures, acquisitions and currency adjustment) picked up to 5.4% from 1.2% in Q1.
Outlook: 3M now expects full-year EPS of $8.80 to $8.95, up from the prior range of $8.50 to $8.70. Organic sales growth is now seen above 3.5% vs. the prior outlook of around 3%.
#outlook #industrial #early
The industrial conglomerate has been shedding noncore ***** ets and leveraging AI to accelerate product launches. 3M said it's on track to launch more than 350 new products this year and 1,000 by the end of 2027. The company said last week that its new expanded beam optics technology for data centers is being deployed by Microsoft Azure.
Results: Adjusted earnings per share grew 11% to $2.40, 15 cents ahead of forecasts. Operating profit rose 40 basis points from a year ago to 24.9%. Sales rose 5.6% to $6.5 billion, as comparable sales growth (excluding divestitures, acquisitions and currency adjustment) picked up to 5.4% from 1.2% in Q1.
Outlook: 3M now expects full-year EPS of $8.80 to $8.95, up from the prior range of $8.50 to $8.70. Organic sales growth is now seen above 3.5% vs. the prior outlook of around 3%.
#outlook #industrial #early
7 days ago
