3M (NYSE:MMM) shares climbed more than 5% intra-day today after the company announced its Q3 results that exceeded expectations and updated its yearly profit outlook.

The company posted a Q3 EPS of $2.68 with revenues of $8.02 billion, surpassing the anticipated EPS of $2.35 and sales of $8 billion.

3M raised its annual EPS estimate to around $9.05 (plus or minus 10 cents) from the earlier $8.85. Additionally, their forecast for adjusted yearly sales growth is now a decrease of about 5%, adjusting from the earlier 5-1% decline prediction. This change indicates an expected drop in adjusted organic sales of roughly 3%, rather than the prior estimate ranging from a 3% decline to flat.