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3M lifts annual guidance after Q2 results top estimates; shares jump
['Vahid Karaahmetovic', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Investing.com -- Shares in 3M jumped after the industrial conglomerate reported second-quarter earnings that topped Wall Street expectations and raised its full-year profit guidance.
Revenue came in at $6.5 billion, reflecting organic growth of 5.4% year-over-year, and above the $6.4 billion consensus.
Adjusted operating margin rose to 24.9%, up 40 basis points from a year earlier.
The company guided to adjusted total sales growth of more than 4.5%, reflecting adjusted organic sales growth of more than 3.5%, while reiterating an adjusted operating margin of 24.9%, up 40 basis points year-on-year.
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