3M Co. is betting on growing sales for the second half of the year, based on a strong first half that included an uptick in sales of automotive products as well as office supplies and home improvement items.
3M MMM earlier Tuesday reported second-quarter adjusted earnings of $2.59 a share on sales of $8.95 billion. Analysts polled by FactSet expected the diversified industrial company to report adjusted EPS of $2.28 a share on sales of $8.53 billion.
Shares of 3M fell about 0.5% on Tuesday. So far this year, the stock has gained 14%, compared with gains of around 17%