3M (NYSE: MMM) delivered a beat-and-raise quarter before the market opened on July 21. The initial reaction from investors is bullish, with the stock surging 9% after trading began. The earnings beat was more of the same for a company that’s taken many steps to improve efficiency in the past 12 months. The revenue beat was what investors have been waiting for, making the bear case harder to defend.
The best part of the Q2 2026 earnings report may have been the company’s forward guidance. 3M raised its full-year guidance for revenue, earnings per share (EPS) and free cash flow. The estimates for EPS of $8.80 to $8.95 and FCF of $4.7 billion to $4.9 billion would represent growth of around 10% and 20%, respectively. Both of which are ahead of the company’s average over the last few years.
