Post-It Maker 3M Q3 Earnings: Sales Growth Slows, Margins Expand, Raises Annual Profit Outlook

3M Company (NYSE:MMM) shares are trading higher after the company reported better-than-expected third-quarter adjusted EPS and sales and revised FY24 EPS guidance.

The company reported net sales of $6.294 billion, a slight increase of 0.4% year-over-year. Adjusted net sales totaled $6.068 billion, up 1.5% on year and marginally beating the consensus of $6.057 billion. Adjusted EPS was $1.98, up 18% Y/Y, beating the consensus of $1.90.

Adjusted organic sales growth was 1.0% in the quarter, including ~(1.0) ppt headwind from portfolio/geographic prioritization.

Adjusted operating margin expanded 1.4 ...