3M stock jumps on raised outlook as company's turnaround gains traction
3M (MMM) stock surged over 6% in premarket trading after reporting second-quarter adjusted earnings of $2.40 per share, beating analyst expectations of $2.25. The company raised its full-year 2026 adjusted earnings guidance to $8.80-$8.95 per share, above prior forecasts and analyst estimates. Adjusted operating margins improved to 24.9%, signaling strong execution in its multiyear turnaround launched in 2024. 3M highlighted strategic moves including Microsoft as the first hyperscaler to deploy its Expanded Beam Optics technology for AI data centers, a long-term agreement with Airbus to supply insulation for the A220 aircraft, and use of its communication headsets on NASA's Artemis II mission. The company is repositioning as a materials technology supplier for electronics, advanced manufacturing, aerospace, and AI infrastructure. The turnaround follows years of challenges including PFAS liabilities and the 2024 spin-off of its healthcare business Solventum. Year to date, 3M shares are flat.
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