The conglomerate 3M raises its earnings forecast for the current year for the second time. The adjusted earnings from continuing operations are now expected to reach 7.20 to 7.30 US dollars per share, the company announced on Tuesday in St. Paul. Since the new CEO William Brown took office, the lower end of the range has been increased by a total of 40 cents.

In the third quarter, 3M achieved a significant increase in profit. Bottom line, the company earned $1.37 billion (€1.26 billion), after having incurred a loss of nearly $2.1 billion in the previous year due to billion-dollar settlements related to contaminated drinking water. The adjusted earnings per share from continuing operations rose from $1.68 to $1.98, exceeding analysts' expectations.

The heading can be translated to English as:
"Sales remained at the previous year's level at just under 6.3 billion dollars. For the full year, 3M now forecasts a revenue growth of one percent compared to the previous year. Previously, the company had indicated both a slight decline of up to 0.25 percent and an increase of up to 1.75 percent.

CEO William Brown was satisfied: 'We have once again achieved a strong quarter with double-digit earnings growth per share and robust cash flows. 3M is well positioned to end the year with strong results.' The stock rose more than two percent pre-market in the US, but closed at the NYSE down 2.31 percent at $131.72.