3M beats Q3 estimates and raises full-year guidance; shares rise ~5% on Amazon data-center deal momentum
What happened
3M reported third-quarter adjusted EPS of $2.50 on $6.6 billion in sales, beating the $2.38 consensus; organic sales grew 3.3%. Management raised full-year adjusted EPS guidance to $9.10–$9.15 from $8.80–$8.95. Shares rose 4.7% to $169.64 in early trading while the broader market was flat. Barron's and Bernstein noted that Monday's Amazon warrant deal — Amazon can buy 3.2 million shares of 3M with vesting tied to $6 billion of optical-connectivity and data-center product purchases — was arguably the bigger driver than the earnings themselves, since it positions 3M's fiber-optics business as a direct beneficiary of AI data-center capex. The company also announced a collaboration with Genius Electronic Optical on 'expanded beam optics' for server-rack connectivity.
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Start your free 14-day trialWho’s affected
- 3M (MMM, Dow component) — beat plus raised guidance plus a demand-linked Amazon deal is a triple positive
- Amazon (AMZN) — the $6B product commitment signals aggressive data-center buildout; fiber-optics/data-center connectivity suppliers on read-through; industrials broadly as a strong quarter from a cyclical bellwether suggests end-market resilience.
Sources