3M Analysts Increase Their Forecasts After Strong Q2 Earnings

3M Company (NYSE: MMM ) on Tuesday reported better-than-expected second-quarter results and raised its full-year guidance.

The company posted adjusted earnings of $2.40 per share, beating the analyst consensus estimate of $2.25.

Revenue rose 2.4% year over year to $6.50 billion, topping expectations of $6.41 billion.

3M increased its 2026 adjusted earnings forecast to a range of $8.80 to $8.95 per share from its prior outlook of $8.50 to $8.70.

The new range is above the Wall Street consensus estimate of $8.75.

The company also updated its full-year revenue outlook to a range of $23.19 billion to $25.37 billion, compared with analysts’ estimate of $25.15 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. “As a result of our strong first-half performance and continued momentum, we are increasing our full-year guidance and remain confident in our ability to create long-term value for shareholders.

I want to thank the 3M team for their disciplined execution, dedication, and relentless focus on delivering innovative solutions for our customers.” 3M shares fell 2.5% to trade at $168.72 on Wednesday.

These analysts made changes to their price targets on 3M following earnings announcement.

RBC Capital analyst Deane Dray maintained the stock with an Underperform rating and raised the price target from $123 to $132.

Citigroup analyst Andrew Kaplowitz maintained the stock with a Neutral and raised the price target from $166 to $183.

Considering buying MMM stock? Here’s what analysts think: Photo via Shutterstock