12:06 PM EDT, 07/26/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

3M ( MMM ) shares rose nearly 20% in recent trading after the company reported Q2 adjusted earnings Friday of $1.93 per diluted share, up from $1.39 a year earlier.

Analysts polled by Capital IQ expected $1.68.

Net sales for the quarter ended June 30 were $6.26 billion compared with $6.28 billion a year earlier.

Analysts polled by Capital IQ expected $5.83 billion.

The company now expects full-year adjusted earnings per share of $7.00 to $7.30, from the previous range of $6.80 to $7.30, and maintained a sales forecast of a 0.25% decline to a 1.75% increase. Analysts polled by Capital IQ expect $7.18 in adjusted earnings per share on revenue of $23.60 billion.

Price: 123.85, Change: +20.46, Percent Change: +19.79