3M lifts annual guidance after Q2 results top estimates; shares jump
Investing.com -- Shares in 3M jumped after the industrial conglomerate reported second-quarter earnings that topped Wall Street expectations and raised its full-year profit guidance.
The company posted second-quarter earnings per share of $2.40, beating the analyst estimate of $2.24. Revenue came in at $6.5 billion, reflecting organic growth of 5.4% year-over-year, and above the $6.4 billion consensus.
Adjusted operating margin rose to 24.9%, up 40 basis points from a year earlier. Operating cash flow was $1.0 billion for the quarter, with adjusted free cash flow of $1.3 billion.
"We delivered a strong second quarter, exceeding expectations with mid-single-digit sales growth, robust operating margins of about 25%, and double-digit EPS growth, reflecting the progress we’re making on our strategic priorities and building a higher-performing company," said William Brown, 3M Chairman and CEO.
3M raised its full-year 2026 guidance, now expecting earnings per share of $8.80 to $8.95, up from its previous range of $8.50 to $8.70, and above the $8.74 consensus estimate. The company guided to adjusted total sales growth of more than 4.5%, reflecting adjusted organic sales growth of more than 3.5%, while reiterating an adjusted operating margin of 24.9%, up 40 basis points year-on-year.
