3M's second-quarter profit jumped 6 percent as sales surged across all its businesses.
The maker of Post-it notes, industrial coatings and ceramics posted net income of $1.27 billion, or $1.91 per share, in the quarter ending June 30, compared with $1.2 billion, or $1.71 per share, in the same quarter a year ago.
Continue Reading Below
The profit matched Wall Street expectations and the company's revenue, which rose 4.9 percent to $8.13 billion, edged out most analyst projections, according to a poll by FactSet.
"Organic sales growth was again positive across all businesses and geographic regions which helped drive double-digit growth in earnings per share," said Chairman and CEO Inge Thulin. "Strong productivity fueled increased growth investments, and operating margins increased year-on-year to nearly 23 percent."
The St. Paul company stuck by its full-year projection for per-share earnings of between $7.30 and $7.55, and an increasing in revenue of between rise 3 percent and 6 percent.
Wall Street is expecting earnings of $7.47 per share and a 4 percent hike in revenue.
Before the opening bell, shares of 3M Co. edged higher to $144.73, within $1.52 of an all-time high.