3M Co. cut its full-year earnings forecast on Tuesday, as the diversified manufacturer battles rising inflation, supply chain bottlenecks, and higher commodity prices. While demand for goods has rebounded with massive stimulus and the reopening of economies, a labor shortage and soaring raw material prices have left U.S. manufacturers in the lurch. Shares of 3M, however, were up 2.2 percent at $186.43 premarket as the biggest maker of N95 masks reported a better-than-expected quarterly profit and revenue on the back of sales growth in all its businesses. 3M, which makes everything from Post-It notes and adhesives to industrial sandpaper, also said annual sales are now expected to grow between 9 percent and 10 percent, compared to a prior forecast of 7 percent to 10 percent. Last month, the company pointed to inflation coming in higher than expected, with cost pressures in resins, wood pulp, and labor. 3M now expects 2021 …
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