3M Co. (NYSE: MMM) reported Q2 EPS of $2.59, $0.30 better than the analyst estimate of $2.29. Revenue for the quarter came in at $8.9 billion versus the consensus estimate of $8.47 billion.

GUIDANCE:

3M Co. sees FY2021 EPS of $9.70-$10.10, versus the consensus of $9.81.

• Based on a strong first half of the year, 3M updated its guidance for full-year 2021. The company expects reported total sales growth of 7 to 10 percent with organic local-currency sales growth in the range of 6 to 9 percent. This compares to the company's prior expectations for total sales growth of 5 to 8 percent with organic local-currency growth of 3 to 6 percent. 3M now forecasts earnings in the range of $9.70 to $10.10 per share versus a prior expectation of $9.20 to $9.70. The company expects full-year free cash flow conversion to be in the range of 90 to 100 percent versus a previous range of 95 to 105 percent, as referenced in the "Supplemental Financial Information Non-GAAP Measures" section.

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