3M raises full-year profit forecast, shares rise

Shares of 3M MMM.N up 3.3% at $164.3 premarket

Co raises annual profit forecast, as its cost-cutting measures and efforts to focus on high-margin products begin to pay off

MMM now expects 2025 adjusted profit in range of $7.75 and $8 per share, compared with $7.60 to $7.90 per share expected previously

Co says increased annual earnings per share forecast now includes the impact of tariffs

Co posts Q2 adjusted profit of $2.16/shr compared with average analyst estimate of $2.01/shr, according to data compiled by LSEG

Median PT of 19 brokerages covering the stock is $163 - LSEG data

As of last close, stock was up 23.2% YTD