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The Economic Times

Business

US Stocks: 3M lifts annual profit forecast on cost controls, price hikes

United States Stock Market

Industrial conglomerate 3M lifted its full-year profit forecast on Tuesday after cost-control initiatives and higher prices supported margins, while its safety and industrial business remained resilient.

The company now expects full-year adjusted profit per share of between $9.10 and $9.15, compared with its prior forecast of $8.80 to $8.95.

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