3M reported second-quarter earnings of $2.40 per share on Tuesday, beating analyst expectations of $2.24 by $0.16. Revenue came in at $6.5 billion versus the consensus estimate of $6.4 billion. The industrial manufacturer raised its full-year guidance and signaled that its turnaround is gaining real momentum.

The stock rose roughly 6% in premarket trading on the news. For 3M, which spent years shedding problem businesses and restructuring, the beat signals that management’s strategy is paying off. The company’s safety and industrial segment posted strong growth, offsetting weakness elsewhere.

Guidance Raised Again

3M sees full-year 2026 EPS of $8.80 to $8.95, up from the analyst consensus of $8.74. The company also raised its adjusted organic sales growth outlook to more than 3.5%, up from a prior target of roughly 3%.

Raising guidance twice in one year—or multiple quarters in a row—is rare. It signals that management has confidence in its forward visibility and isn’t hiding bad news behind conservative projections. Investors rewarded the company for that candor.

The Turnaround Story Holds

3M spent years divesting non-core businesses, settling litigation, and streamlining operations. Each quarter, the company proved it could execute. Q2 results confirm the strategy is working: margins are expanding, growth is accelerating, and the company is generating cash.

For 3M shareholders, this is the payoff for patience. The stock had underperformed for years, but the combination of lower costs, better products, and disciplined capital allocation is now showing up in earnings per share.

This is how industrial turnarounds work: slow, steady, and then suddenly everyone notices.