3M (MMM) posted better-than-expected results and boosted its guidance as the diversified manufacturing giant benefited from higher prices𒀰 and cost savings.

3M reported third quarter fiscal 2023 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.68, with revenue falling 3.6% year-over-year to $8.02 billion. Both were above estimates.

The company said the results reflected “strong operational execution, restructuring actions, and proactive spending discipline." All of its divisions, Safety and Industrial (-4.9%), Transportation and Electronics (-3.0%), Health Care (-0.2%), and Consumer (-6.7%), had declines in sales. 3M plans to spin off its Health Care unit this year. 

The company indicated that as a result of its “year-to-date performance and continued strong operational execution,” it now anticipates full-year EP🦹S in a range of $8.95 to $9.15, up from its earlie🉐r forecast of $8.60 to $9.10.

In June, 3M 澳洲幸运5官方开奖结果体彩网:announced a settlement with water systems around the country over allegations its so-called “forever chemicals” tainted water supplies. The $10.3 billion agreement was well below what many analysts had expected. The company also 澳洲幸运5官方开奖结果体彩网:struck a tentative deal in August related to lawsuits involving over a quarter of a million cla♌ims by veterans that earplugs 3M supplied to the 🍒military were defective. 

3M shares were up over 5% on Tuesday as of 11:30 a.m. ET following the news, after hitting their lowest level since 2012 on Monday.