3M Raises 2026 Adjusted Earnings Outlook to $9.10-$9.15 Per Share

3M Co. (NYSE: MMM) shares advanced in Tuesday’s premarket session after the company posted strong third-quarter results. Adjusted earnings exceeded Wall Street expectations, while revenue came in slightly below forecasts. The industrial conglomerate lifted its full-year earnings outlook for a second consecutive quarter, pointing to stronger operating performance and productivity gains.

Adjusted earnings per share increased 12% year over year to $2.50, above analysts’ $2.39 estimate. Adjusted sales rose 4.2% to $6.6 billion, just short of the $6.61 billion consensus. Adjusted organic sales were up 3.3% from a year earlier. On the company’s new reporting basis, adjusted operating margin widened 110 basis points to 26.2%.

Operating cash flow totaled $500 million, while adjusted free cash flow reached $1.2 billion. 3M returned $600 million to shareholders through dividends and share repurchases. CEO William Brown credited the quarter’s performance to higher sales, expanding margins, double-digit earnings growth and solid free cash flow. He said ongoing Structural changes are boosting productivity, while a stronger pipeline of differentiated technologies underpins 3M’s long-term growth and margin outlook.

3M lifted its 2026 full-year adjusted earnings forecast to $9.10-$9.15 per share, from $8.80-$8.95. The new range is above the $8.94 consensus estimate. The company expects full-year revenue to top 25.37 billion, versus analysts’ estimate of 25.45 billion. It also forecasts adjusted total sales growth above 4.5%, including adjusted organic sales growth of more than 3.5%.

Adjusted operating cash flow is projected at approximately 5.9 billion, with adjusted free cash flow of about 4.8 billion. 3M shares gained 1.10% to $163.80 in premarket trading on Tuesday, according to Pro data.