Reported about 1 month ago
3M Co raised its full-year profit forecast following strong demand for roofing materials, industrial adhesives, and electronics, which helped the company exceed quarterly profit expectations. Despite a small initial rise in shares, they fell 1.5% as concerns grew over the time needed for a turnaround. CEO Bill Brown plans to focus on new product development as 3M navigates challenges from lawsuits and varying consumer demand, particularly in its healthcare and consumer segments. The adjusted profit estimate now stands between $7.20 and $7.30 per share.
Source: YAHOO