Industrial conglomerate 3M lifted its full-year profit forecast on Tuesday after cost-control initiatives and higher prices supported margins, while its safety and industrial business remained resilient. The company now expects full-year adjusted profit per share of $9.10 to $9.15, up from its prior forecast of $8.80 to $8.95. Robust U.S. industrial activity, along with rising sales of chipmaking machines and materials, has helped the company offset uneven demand in some end markets affected by inflationary pressures. Under CEO William Brown, the company has also focused on improving customer service and operational execution to strengthen growth and profitability.
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