Maplewood-based 3M Co. boosted its full-year adjusted profit and cash flow targets as it reported third-quarter results that easily topped Wall Street estimates, lifted by sweeping cost cuts and efforts to combat an ongoing sales slump.

Adjusted earnings in 2023 will be $8.95 to $9.15 per share, 3M said in a statement Tuesday. That compares with its earlier forecast of $8.60 to $9.10, and an average of $8.88 based on analyst estimates compiled by Bloomberg.

The company, which makes ubiquitous consumer products such as Scotch tape and Post-it Notes, as well as myriad industrial products, also expects its adjusted operating cash flow will be from $6.5 billion to $6.9 billion, up from a range of $5.9 billion to $6.3 billion.

“We are building momentum through strong operational execution,” 3M Chief Executive Officer Mike Roman said in a statement. The results “position us for a solid close to 2023.”

3M shares rose 4.5% to $90.12 in trading Tuesday.

The higher targets reflect deep cost cuts, thousands of layoffs and other actions taken by Roman to streamline the complex company amid a lengthy sales slump.

3M reported a third-quarter adjusted profit of $2.68 per share, blowing past the $2.34 estimated by Wall Street. The company attributed its improved bottom line to operational improvements at its factories, restructuring actions gaining traction and spending controls.

Sales of $8.02 billion were at the high end of 3M’s third-quarter forecast and slightly above the average analysts estimate. Full-year sales will be down about 3% on an organic basis, a change from 3M’s previous forecast of a 3% decline to no better than flat, the company said.

Shares of the manufacturing giant had declined 29% this year through Monday’s close on meager sales growth, uneven earnings and billions of dollars in legal settlements to resolve environmental and product liability claims.

The company took a major step toward resolving its legal entanglements in August when it by agreed to pay $6 billion to resolve hundreds of thousands of lawsuits alleging it supplied defective earplugs to US combat troops.

The company took a $4.2 billion pretax charge in the third quarter because of the agreement, which was adjusted out of its reported results.

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Two St. Paulites were among four Minnesota men charged last week with running a multimillion-dollar catalytic converter theft ring.

Justin Tyme Johnson, 32, of St. Paul; Soe Nye Moo, 31, of St. Paul; John Charles Kotten, 41, of Hutchinson; and James Dillon Jensen, 34, of Minneapolis, were indicted on one count of conspiracy to transport stolen property across state lines, according to charging documents filed in U.S. District Court.

Johnson and Kotten were also charged with eight counts of interstate transportation of stolen property, one count of money laundering and 10 counts of using the proceeds of unlawful activity in monetary transactions.

Moo was also charged with possessing a machine gun.

All four defendants made their initial appearances Tuesday in U.S. District Court in St. Paul.

Johnson and Kotten, who were the ringleaders of the scheme, acquired catalytic converters directly from thieves or through intermediaries, including Moo and Jensen, according to the indictment.

Johnson and Kotten then sold them to buyers in New Jersey, Oklahoma, Colorado, New York and elsewhere, transporting the stolen goods in U-Hauls and personal vehicles, the indictment said. The proceeds from these sales allegedly netted the conspirators about $21 million.

Thefts of catalytic converters have spiked in recent years, with thieves using power tools to remove them from vehicles and selling the devices for the precious metals inside them.

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In the Wild’s Blue Line Academy in Des Moines, Daemon Hunt is considered something of an upperclassman.

“Hunt’s been there for a couple of years, so we felt, obviously, that he’s the next guy to come up and play,” Minnesota head coach Dean Evason said.

Hunt, the first of what the Wild believe is a talented young group of defensemen to be called up from Iowa, is all of 21 years old, but he has 69 AHL games under his belt in parts of three seasons with the Wild’s top affiliate.

It wasn’t unexpected.

“I have high expectations for myself and I did believe I could be the next guy to get up here,” Hunt said Tuesday before the Wild’s 8 p.m. puck drop against the Edmonton Oilers at Xcel Energy Center.

Hunt was having a strong camp before suffering a concussion, on a hit from Colorado minor leaguer Tanner Kero, in the team’s first preseason game but said he has recovered fully and back on his A game.

It didn’t appear he would be making his NHL debut on Tuesday. He was called up as insurance with Jon Merrill banged up and the team ready to leave Wednesday for a three-game East Coast road trip. Merrill said after the morning skate he felt ready to go, but Evason said Hunt would go through warmups just in case.

With veteran Dakota Mermis, 29, getting an early callup to Minnesota, the Iowa Wild’s blue line is composed primarily of young draft picks Hunt, Ryan O’Rourke, Simon Johnsson, Carson Lambos, David Spacek and Kyle Masters. Average age, 21.

“We definitely are a bit young back there,” Hunt said. “It was nice having our captain Dakota down there, but that’s awesome he’s here. But I told him he’s like a baby sitter down there with us a bit.”

“I think everyone’s there for a reason, right? They’re all really good hockey players and they can all take care of themselves. They’ve all had really good starts. We haven’t been winning too many games, but I’m sure they’ll find the path soon.”

Iowa (3-3-0) is giving up an average of 4.3 goals — and lost to the Manitoba Moose, 8-3, on Saturday in Winnipeg — but the Wild have seen those young defensemen in at least one training camp, and liked what they’ve seen.

“We’re excited about our blue line down there,” Evason said. “Are they going to give some goals up like they did the other night in Winnipeg? Sure. That’s gonna happen. But they’re going to become pros because of it, and the teaching that (Brett McLean) and his staff will do down there will do great things for them.”

Shooting to thrill

Also up this week is Vinni Lettieri, a veteran pro who was set to make his first start with the Wild, the team he grew up rooting for while playing at Minnetonka and the University of Minnesota.

One thing Wild fans can expect from Lettieri is shots on goal. Last season at AHL Providence, he threw 163 on net while scoring 23 goals and 49 points in 48 games, and his 14 shots — one goal — lead the Iowa Wild this season.

“Even Michael Michael Jordan said he failed so much he succeeded,” Lettieri said after Tuesday’s morning skate. “You’ve gotta keep on shooting. Not every one’s going to go in, and if they did, you should probably win the lottery, as well.”

In three preseason games, Lettieri, 28, had a goal and three assists. In parts of five NHL seasons with the Rangers, Ducks and Bruins, he has seven goals, 11 assists and 126 shots in 83 NHL games.

“It’s not just getting as many shots as you can, because obviously you don’t want any play-killers,” he said. “But when the shot’s there, you never know which shot’s going to go in.”

“You still have to be able to see the game, and see if someone’s open,” Lettieri added, “but I’ve been a shooter all my life, that’s pretty much what I worked on every single day in my basement, and I try to do it as best I can.”

Briefly

Evason confirmed Tuesday that Matt Boldy (upper body) will travel with the team when it leaves for Philadelphia on Wednesday. “He won’t be ready for the start (of the trip),” the coach said, “but maybe at the end.”

PORTLAND, Ore. — An off-duty airline pilot riding in an extra cockpit seat on a Horizon Air flight said “I’m not OK” just before trying to cut the engines midflight and later told police he had recently taken psychedelic mushrooms as his mental health worsened, according to charging documents made public Tuesday.

State prosecutors in Oregon filed 83 counts of attempted murder against Alaska Airlines pilot Joseph David Emerson, 44, on Tuesday just before he appeared in court, with his attorney, Noah Horst, entering not guilty pleas on his behalf. Federal prosecutors meanwhile charged Emerson with interfering with a flight crew, which can carry up to 20 years in prison.

According to a probable cause statement filed in Multnomah County Circuit Court, Emerson told Port of Portland police following his arrest that he had been struggling with depression, that a friend had recently died and that he had taken psychedelic mushrooms about 48 hours before he attempted to cut the engines. He also said he had not slept in more than 40 hours, according to the document.

Police reported that Emerson did not appear to be intoxicated at the time of the interview, and in a statement Tuesday, Alaska Airlines, which owns Horizon, said neither the gate agents nor flight crew noticed any signs of impairment that might have barred him from the flight. An FBI agent wrote in a probable cause affidavit in support of the federal charge that Emerson “said it was his first-time taking mushrooms.”

While psilocybin is illegal in most of the country — Oregon legalized it for adults this year — the Food and Drug Administration in 2018 designated it a “breakthrough therapy” that might be used for mental health conditions or substance use disorders.

Emerson, an Alaska Airlines pilot from Pleasant Hill, Calif., was arrested Sunday night after the flight crew reported that he attempted to shut down the engines on a Horizon Air flight from Everett, Wash., to San Francisco while riding in the extra seat in the cockpit. The plane was diverted to Portland, where it landed safely with more than 80 people on board.

The FBI affidavit said Emerson, who as an off-duty pilot was authorized to ride in the cockpit’s jump seat, made casual conversation with the captain and first officer when the plane was between Astoria, Ore., and Portland, before trying to grab two red handles that would have activated the plane’s fire suppression system and cut off fuel to its engines.

After what the flight crew described as a brief struggle, lasting only about 30 seconds, Emerson left the cockpit, the FBI said.

Flight attendants placed Emerson in wrist restraints and seated him in the rear of the aircraft, but as the plane descended, he tried to grab the handle of an emergency exit, according to the document. A flight attendant stopped him by placing her hands on top of his, it said.

Alaska Airlines said Tuesday that Emerson had been relieved of all duties.

Horst did not immediately speak with reporters following the hearing or respond to phone and email messages seeking comment.

The captain and first officer told police after the plane landed that Emerson said “I’m not OK” just before he reached up to pull the handles. They were able to stop him before he pulled the handles all the way down, the affidavit said.

Emerson walked calmly to the back of the plane after being told to leave the cockpit and told a flight attendant, “You need to cuff me right now or it’s going to be bad,” the affidavit said. Another flight attendant heard him saying, “I messed everything up” and “tried to kill everybody.”

According to the affidavit, he asked police if he could waive his right to an attorney: “I’m admitting to what I did. I’m not fighting any charges you want to bring against me, guys.”

He also told them he thought he was having a nervous breakdown and said: “I pulled both emergency shut off handles because I thought I was dreaming and I just wanna wake up,” according to the affidavit.

Pilots are required to undergo psychological screening as part of their regularly scheduled medical exams. There have been crashes that investigators believe were deliberately caused by pilots. Authorities said the copilot of a Germanwings jet that crashed in the French Alps in 2015 had practiced putting the plane into a dive.

Emerson took his most recent exam in September, Federal Aviation Administration records show — but according to the charging documents, he had long been struggling with depression.