3M Hikes Guidance Again as CEO’s Turnaround Plan Accelerates

3M Co. raised its profit forecast for the second straight quarter as Chief Executive Officer Bill Brown’s effort to revitalize the conglomerate gains traction despite ongoing challenges from economic volatility.

Adjusted earnings will be $7.95 to $8.05 a share, up from a prior range that topped out at $8, the company said in a statement Tuesday that revealed better-than-expected quarterly results. Analysts had predicted $7.94 on average in estimates compiled by Bloomberg. Total sales will grow more than 2.5%.