3M lifts profit forecast as AI push deepens, shares rise
MMM•3M raised its 2026 adjusted profit forecast to $9.10-$9.15 per share from $8.80-$8.95, after reporting quarterly adjusted revenue of $6.6 billion and adjusted profit of $2.50 per share.
1. Forecast raised
3M raised its 2026 adjusted profit forecast after quarterly adjusted profit of $2.50 per share topped estimates of $2.38. Adjusted revenue was $6.6 billion, up 4.2%.
2. AI-linked sales
Strong sales to chipmakers and higher prices supported results, while automotive and consumer electronics demand remained subdued. CEO William Brown estimated that expanded beam optics sales, a smaller part of data center sales, will likely rise to $80 million-$100 million in 2027 from about $40 million expected this year.
3. Amazon partnership
The forecast increase followed an expanded data-center partnership with Amazon announced Monday. The deal allows Amazon’s unit to buy $521 million of 3M stock over the next seven years as it purchases more data center components.
