Strong Financial Performance: 3M reported second-quarter adjusted earnings per share of $2.16, a 12% increase year-over-year, along with organic sales growth of 1.5%. This marks a positive trend with all three business groups reporting growth for the third consecutive quarter. Operating margins improved by 290 basis points, attributed to productivity and cost control measures.

New Product Launches and Innovation Focus: The company launched 64 new products in Q2, representing a 70% increase from last year, contributing to a 9% rise in new product sales in the first half of the year. This focus on innovation is expected to drive growth and improve margins as new products stabilize in factories and enter markets, enhancing customer value.

Operational Excellence and Cost Control: 3M achieved a gross productivity of 2%, net of inflation, with cost control initiatives yielding approximately $0.5 billion in savings, split evenly between supply chain and G&A. This operational focus has yielded significant improvements in adjusted gross and operational margins, with a current year-to-date operating margin of 24%.