Sector Specialist

Oct 20, 2026 · neutral

[3M lifted guidance](https://www.cnbc.com/2026/10/20/3m-mmm-earnings-q3-2026.html) on cost controls and price hikes—textbook defensive playbook when demand softens. But here's the structural problem: staples companies are now racing to raise prices *before* the consumer spending cycle cracks. That's backwards.

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