3M (MMM) Stock Jumps 6% After Q2 Earnings Beat and Guidance Raise

TLDR

• 3M posted Q2 EPS of $2.40, beating the Wall Street estimate of $2.24–$2.25
• Revenue came in at $6.5 billion, above the $6.4 billion consensus
• Organic sales grew 5.4% year over year, up sharply from 1.2% in Q1
• Full-year EPS guidance raised to $8.80–$8.95, up from $8.50–$8.70
• MMM stock jumped 6% in premarket trading to $168.57

3M stock surged 6% in premarket trading to $168.57 on Tuesday after the company posted a strong second quarter and lifted its full-year outlook.

3M Company, MMM

The industrial conglomerate reported Q2 earnings per share of $2.40, ahead of the Wall Street estimate of $2.24–$2.25. Revenue came in at $6.5 billion, also topping the consensus of $6.4 billion.

A year ago, 3M posted EPS of $2.16 on revenue of $6.2 billion. The year-over-year improvement was hard to ignore.

3M $MMM Q2’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $6.5B (Est. $6.4B) 🟢; +2.4% YoY
🔹 Adj. EPS: $2.40 (Est. $2.24) 🟢; +11% YoY
🔹 Adj. Oper Margin: 24.9%; +40 bps YoY

Raises Adj. FY26 Guide:
🔹 EPS: $8.80-$8.95 (Est. $8.74) 🟢
🔹 Total Sales Growth: >4.5%
🔹 Organic Sales Growth:… pic.twitter.com/FiiYW84V1a

— Wall St Engine (@wallstengine) July 21, 2026

Organic sales growth came in at 5.4% for the quarter. That’s a big step up from the 1.2% growth recorded in Q1, and a sign that momentum is building.

Adjusted operating margin rose to 24.9%, up 40 basis points from a year earlier. Operating cash flow was $1.0 billion for the quarter, with adjusted free cash flow of $1.3 billion.

CEO William Brown called it a strong quarter. “We delivered a strong second quarter, exceeding expectations with mid-single-digit sales growth, robust operating margins of about 25%, and double-digit EPS growth,” he said.

Full-Year Guidance Gets a Lift

3M raised its full-year 2026 EPS guidance to a range of $8.80 to $8.95. That’s up from the prior range of $8.50 to $8.70 issued in April, and above the Wall Street consensus of $8.74.

The company also guided for adjusted total sales growth of more than 4.5%, with organic sales growth of more than 3.5%. It maintained its adjusted operating margin outlook at 24.9%, up 40 basis points year over year.

For context, when 3M issued its initial 2026 guidance back in January, the midpoint came in at $8.60 — just shy of what analysts were expecting. The stock fell 7% on January 20 and never really recovered.

Coming into Tuesday, MMM was still down about 1% year to date.

What Changed This Quarter

The Q2 beat was broad. Revenue, earnings, margins, and cash flow all came in ahead of expectations. The guidance raise put the new midpoint at $8.875, above where Wall Street was sitting.

For the full year, 3M expects sales of around $25.4 billion. That’s up from its April estimate of $25.3 billion, and ahead of the $25.1 billion analysts had penciled in.

S&P 500 and Dow futures were both slightly higher on Tuesday morning, up 0.5% and 0.4% respectively, as 3M’s results helped set a positive tone.

The updated full-year guidance range of $8.80 to $8.95 per share now sits above the current Wall Street consensus of $8.74.

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