3M jumps after Q3 profit beat, guidance raise and new Amazon tie-up
+5.78% to $171.37 from $162.01
What moved MMM
- Adjusted EPS was $2.50 versus roughly $2.39 expected, with revenue of about $6.6 billion roughly in line with the $6.61 billion consensus.
- The company raised its full-year adjusted EPS outlook to $9.10-$9.15, above the prior $8.95-$9.10 range and ahead of the $8.94 analyst estimate.
- Adjusted operating margin reached 26.2% for the quarter, with free cash flow of about $1.2 billion.
- The results were paired with news of a new AI-related partnership with Amazon, which added to investor optimism about the company’s turnaround.
Sources: Investing.com · Benzinga · Invezz