3M Says Business Is Improving, Boosts Earnings Guidance

3M boosted its earnings forecast after a stronger-than-expected quarter, saying efforts to improve performance and control costs are bearing fruit.

The Minnesota-based company reported adjusted earnings per share of $2.68 for the third quarter, higher than its guidance and predictions by analysts surveyed by FactSet. Adjusted sales came in at $8.02 billion, also outpacing expectations.