3M Lifts Annual Profit Forecast as AI-Driven Demand, Amazon Partnership Deepen

3-line summary

• 3M raised its 2026 adjusted EPS guidance to $9.10-$9.15, up from a prior $8.80-$8.95; third-quarter adjusted revenue rose 4.2% to $6.6 billion, with adjusted EPS of $2.50 beating the $2.38 LSEG consensus, helped by price increases.
• Growth was driven partly by rising sales to chipmakers and increased sales of semiconductor equipment and materials tied to the AI boom; 3M expanded its data-center partnership with Amazon, which includes a provision allowing an Amazon affiliate to buy up to $521 million of 3M stock over the next seven years.
• CEO said revenue from the company's expanded beam optics (EBO) connectors used inside data centers is expected to nearly double, from about $40 million this year to $80-100 million by 2027; shares rose about 5% following the results.

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