3M raised its full-year adjusted earnings forecast to between $8.80 and $8.95 per share. This outlook improves upon the previous guidance of $8.50 to $8.70 per share.
Shares of the industrial conglomerate climbed approximately 6% in premarket trading following the announcement. CEO William Brown attributed the revision to strong first-half performance and ongoing operational momentum.
The company credited the higher forecast to successful cost-cutting measures and strategic price increases. Sustained demand within the safety and industrial business segment also supported the improved outlook.