Post-it Maker 3M Raises Annual Outlook After Q2 Beat, Stock Soars
Portfolio Pulse from Akanksha Bakshi
3M Company (NYSE:MMM) reported better-than-expected Q2 2024 results, leading to a 6.82% increase in its stock price. The company raised its annual outlook, with adjusted EPS now expected to be between $7.00 and $7.30. Despite a slight decline in net sales, 3M saw growth in adjusted net sales and organic sales, along with improved operating margins.
July 26, 2024 | 12:34 pm
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3M Company reported better-than-expected Q2 2024 results, leading to a 6.82% increase in its stock price. The company raised its annual outlook, with adjusted EPS now expected to be between $7.00 and $7.30. Despite a slight decline in net sales, 3M saw growth in adjusted net sales and organic sales, along with improved operating margins.
3M's better-than-expected Q2 results and raised annual outlook are strong positive signals for investors. The company's ability to grow adjusted net sales and improve operating margins despite headwinds indicates robust operational performance. The market has reacted positively, as evidenced by the 6.82% increase in stock price.
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