3M $MMM raises its full-year outlook while also targeting data centers📈
“3M” reported revenue of $6.6 billion for the third quarter of 2026, adjusted earnings per share of $2.50, up 12% from a year earlier, and an adjusted operating margin of 26.2%. Adjusted organic revenue grew by 3.3%. Under GAAP, however, organic growth reached just 0.2%
Adjusted free cash flow was $1.2 billion. The company raised its 2026 adjusted EPS outlook to $9.10–$9.15.
More interesting, though—and quite unexpected to me—is the expanded partnership with $AMZN in optical connectivity for data centers.
3M issued Amazon a warrant (a security that gives the holder the right, but not the obligation, to buy company shares at a predetermined price during a specified period) to purchase up to 3.2 million shares, exercisable if cumulative sales of these products reach $6 billion over 7 years. This also goes hand in hand with the purchase of an approximately 4.7% stake in Taiwanese optical company GSEO.
After rising nearly 4% initially following the announcement of the Amazon deal, the shares are now up less than 1% just before the market opens.