Investing.com -- 3M Company (NYSE: MMM) rose 2.5% Wednesday following comments from Chief Executive Bill Brown at the Wells Fargo Industrials and Materials Conference.

Brown said the company’s strategy is gaining traction, with earnings per share up 14% in the first quarter and 30 basis points of margin expansion. The company saw double-digit growth in free cash flow and organic revenue growth of just over 1%, though orders surged double digits in the quarter.

The CEO said 3M will be "solidly above 3%" in organic growth for the second quarter, noting the company is well into the period and seeing orders and backlog convert to revenue. Backlog grew double-digit both year-over-year and sequentially in the first quarter.

Brown attributed the momentum to commercial excellence initiatives and innovation rather than pre-buying ahead of April price increases. He said approximately 60% of the portfolio, including general industrial and safety segments, grew mid-single digits in the first quarter.

The company’s data center business showed particular strength, with the inside-data-center segment growing more than 50% each quarter. 3M’s optical fiber interconnect technology, called EBO, received validation and an order from a major hyperscaler in the first quarter for delivery in the second half of the year. The addressable market for optical connects inside data centers has expanded from over $1 billion at the end of the first quarter to north of $2 billion currently, Brown said.

The CEO said 3M does not currently see a need to use the $0.05 to $0.15 contingency built into guidance for Middle East-related impacts. The company’s business in the Middle East represents less than 2% of revenue.

3M expects to achieve more than $300 million in growth above the macro this year, ahead of its target of $100 million for 2025. The company is on track to deliver at least half of its $1 billion net productivity target by year-end.

The Madison Fire & Rescue joint venture is set to close July 1, creating an approximately $800 million business in which 3M will hold a 51% stake. The transaction will return $700 million in cash to the parent company.