3M, a multinational conglomerate, has lifted its full-year profit forecast on the back of cost-control measures, price hikes, and continuing strength in its safety & industrial business. The company now expects full-year adjusted profit per share between $8.80 and $8.95, compared with its earlier forecast of $8.50 to $8.70.
The industrial giant’s shares rose about 6% in premarket trade. 3M’s cost cuts, price hikes, and the introduction of new products and customer service initiatives under CEO William Brown have helped the company cushion margins from weak demand against a prolonged inflationary backdrop.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
