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Post-it Maker 3M Raises Annual Outlook After Q2 Beat, Stock Soars
3M Company (NYSE:MMM) shares are trading higher after reporting better-than-expected second-quarter 2024 results.
The company reported second-quarter net sales of $6.255 billion, a slight decline of 0.5% year-over-year. Adjusted net sales totaled $6.019 billion, up 1.1% YoY, beating the consensus of $5.878 billion.
3M’s adjusted organic sales growth was 1.2%, despite a 1.2 ppt YoY headwind from product changes and exiting small countries. Strength in electronics, industrial end-markets mixed, and consumer retail discretionary spending remained soft.
Adjusted EPS was $1.93, up from $1.39 in ...