What Happened?
Shares of industrial conglomerate 3M (NYSE: MMM) jumped 5.2% in the afternoon session after the company reported third-quarter 2026 results, raised its full-year adjusted earnings per share guidance, and announced an expanded commercial relationship with Amazon.
According to a company press release, 3M reported third-quarter 2026 GAAP sales of $6.6 billion and adjusted organic sales growth of 3.3%. Its adjusted operating income margin was 26.2%, and adjusted earnings per share was $2.50. The company raised its full-year 2026 adjusted earnings per share guidance to a range of $9.10 to $9.15.
In addition to its financial results, the company announced an expanded commercial relationship with Amazon to scale and deploy optical connectivity and other data center products. The company granted Amazon a warrant to acquire up to 3.2 million shares tied to achieving $6 billion in cumulative sales over seven years.
The shares closed the day at $171.50, up 5.9% from the previous close.
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What Is The Market Telling Us
3M’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 3 months ago when the stock gained 8.3% on the news that Shares of industrial conglomerate 3M (NYSE: MMM) jumped 6.1% in the pre-market session after the company reported second-quarter results that beat Wall Street expectations and raised its full-year profit forecast.
Adjusted earnings per share came in at $2.40, topping consensus estimates of $2.25. Sales reached $6.5 billion, reflecting 5.4% organic growth compared to the previous year. While profitability took a hit, with the operating margin contracting to 15.1% from 18.5% in the same quarter last year, investors were encouraged by the company's forward-looking statements.
Management raised its full-year adjusted EPS guidance to $8.88 at the midpoint, representing a 3.2% increase. Overall, the top and bottom line beats coupled with the raised guidance signaled strength, driving the stock higher.
3M is up 6.1% since the beginning of the year, and at $171.64 per share, it is trading close to its 52-week high of $183.78 from August 2026. Despite the year-to-date gain, investors who bought $1,000 worth of 3M’s shares 5 years ago would now be looking at only $940.88.
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