Earnings summaries and quarterly performance for 3M.
Executive leadership at 3M.
William M. Brown
Detailed
Chief Executive Officer
CEO
AM
Anurag Maheshwari
Detailed
Executive Vice President and Chief Financial Officer
CG
Chris Goralski
Detailed
Group President, Safety & Industrial
JP
John P. Banovetz
Detailed
Executive Vice President, Chief Technology Officer and Environmental Responsibility
KC
Karina Chavez
Detailed
Group President, Consumer Business Group
KH
Kevin H. Rhodes
Detailed
Executive Vice President, Chief Legal Affairs Officer and Secretary
MM
Mark Murphy
Detailed
Executive Vice President, Chief Information and Digital Officer
PD
Peter D. Gibbons
Detailed
Group President, Enterprise Supply Chain
TC
Torie Clarke
Detailed
Executive Vice President and Chief Public Affairs Officer
WB
Wendy Bauer
Detailed
Group President, Transportation & Electronics Business Group
ZD
Zoe Dickson
Detailed
Executive Vice President and Chief Human Resources Officer
Board of directors at 3M.
AH
Anne H. Chow
Detailed
Director
AC
Audrey Choi
Detailed
Director
DB
David B. Dillon
Detailed
Director
DP
David P. Bozeman
Detailed
Director
JR
James R. Fitterling
Detailed
Lead Independent Director
PJ
Pedro J. Pizarro
Detailed
Director
SK
Suzan Kereere
Detailed
Director
T“
Thomas “Tony” K. Brown
Detailed
Director
TW
Thomas W. Sweet
Detailed
Director
Research analysts who have asked questions during 3M earnings calls.
Andrew Kaplowitz
Citigroup
4 questions for MMM
Also covers: ACM, AOS, APG +29 more
AO
Andrew Obin
Bank of America
4 questions for MMM
Also covers: ALH, ALLE, AME +17 more
JS
Jeffrey Sprague
Vertical Research Partners
4 questions for MMM
Also covers: ALLE, AME, AYI +23 more
JO
Joseph O'Dea
Wells Fargo & Company
4 questions for MMM
Also covers: ALLE, ATMU, AYI +15 more
JM
Julian Mitchell
Barclays Investment Bank
4 questions for MMM
Also covers: AIRJ, ALLE, AME +26 more
ND
Nicole DeBlase
BofA Securities
4 questions for MMM
Also covers: CTOS, EMR, ETN +13 more
NC
Nigel Coe
Wolfe Research, LLC
4 questions for MMM
Also covers: AME, CARR, CNM +28 more
SD
Scott Davis
Melius Research
4 questions for MMM
Also covers: CARR, DD, DHR +16 more
Amit Mehrotra
UBS
3 questions for MMM
Also covers: CARR, CR, DOV +12 more
CS
C. Stephen Tusa
JPMorgan Chase & Co.
3 questions for MMM
Also covers: ADSK, ANSS, APG +17 more
Deane Dray
RBC Capital Markets
3 questions for MMM
Also covers: AME, ATKR, CARR +20 more
Christopher Snyder
Morgan Stanley
2 questions for MMM
Also covers: ALH, ALLE, AME +20 more
BL
Brett Linzey
Mizuho Securities
1 question for MMM
Also covers: AIRO, AIT, ALLE +15 more
Joseph Ritchie
Goldman Sachs
1 question for MMM
Also covers: ALLE, CARR, CGNX +22 more
LA
Laurence Alexander
Jefferies
1 question for MMM
Also covers: AIQUY, ALB, APD +27 more
ST
Steve Tusa
JPMorgan Chase & Co.
1 question for MMM
Also covers: AIN, ALTR, CARR +15 more
Recent press releases and 8-K filings for MMM.
3M reports Q4 2025 results
MMM
Earnings
Guidance Update
Share Buyback
- Q4 2025 financial highlights: organic sales growth of 2.2%, adjusted operating margin of 21.1%, EPS of $1.83, and free cash flow conversion of approximately 130%.
- Full-year 2025 performance: organic sales growth of 2.1%, adjusted operating margin of 23.4% (up 200 bps YoY), adjusted EPS of $8.06 (up 10%), free cash flow conversion slightly above 100%, and $4.8 billion returned to shareholders ($1.6 billion dividends, $3.2 billion buybacks).
- 2026 guidance: organic sales growth of about 3%, adjusted operating margin expansion of 70–80 bps, EPS of $8.50–$8.70, free cash flow conversion over 100%, and a gross share repurchase program of $2.5 billion.
- Operational and commercial excellence: launched 284 new products in 2025 (+68% vs 2024) with a new product vitality index of 13%; OTIF above 90%, OEE around 63%, and cost of poor quality at 6% of COGS.
Jan 20, 2026, 2:00 PM
3M reports Q4 2025 results and 2026 outlook
MMM
Earnings
Guidance Update
Share Buyback
- Q4 2025: organic sales growth 2.2%, adjusted operating margin 21.1%, EPS $1.83, free cash flow conversion >130%.
- FY 2025: organic sales growth >2%, adjusted operating margin 23.4%, adjusted EPS $8.06, free cash flow conversion ~100%; returned $4.8 B to shareholders via dividends & buybacks.
- 2026 guidance: organic sales growth ~3%, adjusted operating margin expansion 70–80 bps, EPS $8.50–$8.70, free cash flow conversion >100%, gross share repurchase of ~$2.5 B.
- Innovation: launched 284 new products in 2025 (+68% vs 2024), sales from products launched in the last five years +23%, NPVI at 13%, with 350 launches planned for 2026.
Jan 20, 2026, 2:00 PM
3M reports Q4 2025 results
MMM
Earnings
Guidance Update
Share Buyback
- Organic sales grew 2.2% in Q4 and 2.1% for 2025, with 21.1% Q4 operating margin, 23.4% full-year adjusted margin, $1.83 Q4 EPS, $8.06 full-year EPS, and free cash flow conversion of 130% in Q4 and just above 100% for the year.
- Drove commercial excellence with 600+ joint business plans and $50 million cross-selling wins, launched 284 new products (up 68% vs 2024) with NPVI ending at 13%.
- Achieved operational gains: OTIF above 90%, OEE at 63%, cost of poor quality at 6% of COGS; returned $4.8 billion to shareholders, including $1.6 billion in dividends and $3.2 billion in buybacks.
- 2026 guidance: approximately 3% organic growth, 70–80 bp margin expansion, $8.50–$8.70 EPS, free cash flow conversion >100%, and a $2.5 billion gross share repurchase program.
Jan 20, 2026, 2:00 PM
3M reports Q4 2025 results
MMM
Earnings
Guidance Update
- Q4 sales of $6.02 B with organic growth of 2.2%, an operating margin of 21.1% (+140 bps), EPS of $1.83 (+9%), and free cash flow of $1.3 B (>130% conversion).
- Full-year 2025 results: sales of $24.3 B (+2.1% organic), operating margin of 23.4% (+200 bps), EPS of $8.06 (+10%), and free cash flow of $4.4 B (>100% conversion).
- Q4 driven by strength in Safety & Industrial and Transportation & Electronics; Safety & Industrial sales of $2.865 B (+6.0% total change) while Consumer declined 1.2%.
- 2026 guidance of ~3% organic sales growth, EPS of $8.50–8.70, operating margin expansion of 70–80 bps, and free cash flow conversion >100%.
Jan 20, 2026, 2:00 PM
3M reports Q4 and FY2025 results and 2026 guidance
MMM
Earnings
Guidance Update
Share Buyback
- Q4 GAAP sales of $6.1 B (+2.1% YoY) with operating margin 13.0% and EPS $1.07 (–20%); adjusted sales of $6.0 B (+3.7%) and adjusted EPS $1.83 (+9%).
- FY GAAP sales of $24.9 B (+1.5%) with operating margin 18.6% and EPS $6.00 (–17%); adjusted sales of $24.3 B (+2.7%) and adjusted EPS $8.06 (+10%).
- Q4 operating cash flow $1.6 B and adjusted free cash flow $1.3 B; FY operating cash flow $2.3 B and adjusted free cash flow $4.4 B; returned $0.9 B in Q4 and $4.8 B in FY via dividends and buybacks.
- 2026 guidance: adjusted sales growth of ~4% (organic ~3%), operating margin expansion of 70–80 bps, adjusted EPS $8.50–$8.70, and adjusted operating cash flow $5.6–$5.8 B (>100% free cash conversion).
Jan 20, 2026, 11:34 AM
3M reports Q4 & full-year 2025 results and 2026 guidance
MMM
Earnings
Guidance Update
- Q4 GAAP sales of $6.1 billion (+2.1%) with GAAP EPS of $1.07 (–20%); adjusted sales of $6.0 billion (+3.7%) and adjusted EPS of $1.83 (+9%)
- Full-year GAAP sales of $24.9 billion (+1.5%) with GAAP EPS of $6.00 (–17%); adjusted sales of $24.3 billion (+2.7%) and adjusted EPS of $8.06 (+10%)
- Q4 operating cash flow of $1.6 billion and adjusted free cash flow of $1.3 billion; full-year operating cash flow of $2.3 billion, adjusted free cash flow of $4.4 billion; shareholder returns of $0.9 billion in Q4 and $4.8 billion full-year
- Full-year 2026 outlook: adjusted sales growth ~4% (organic ~3%), operating margin expansion of 70–80 bps, adjusted EPS of $8.50–8.70, and operating cash flow of $5.6–5.8 billion
Jan 20, 2026, 11:30 AM
3M reports Q4 2025 results and issues 2026 EPS guidance
MMM
Earnings
Guidance Update
Dividends
- 3M’s Q4 GAAP sales were $6.1 billion, up 2.1% YoY, with GAAP EPS of $1.07 (down 20%); adjusted Q4 sales reached $6.0 billion (organic growth 2.2%) and adjusted EPS was $1.83 (beat consensus by $0.03)
- Q4 adjusted operating margin rose to 21.1% (up 140 bps YoY), while GAAP operating margin was 13.0% (down 510 bps)
- For full-year 2025, GAAP sales were $24.9 billion (+1.5%) with GAAP EPS of $6.00 (−17%); adjusted sales were $24.3 billion and adjusted EPS was $8.06 (+10%) with a 23.4% adjusted operating margin
- 3M generated $1.6 billion of operating cash flow in Q4 ($1.3 billion adjusted free cash flow) and $2.3 billion for the year (adjusted FCF $4.4 billion), returning $4.8 billion to shareholders in 2025
- The company provided FY2026 adjusted EPS guidance of $8.50–$8.70, emphasizing margin expansion and strategic targets for 2027
Jan 19, 2026, 8:24 AM
3M outlines growth strategy and operational improvements at Goldman Sachs Industrials & Materials Conference 2025
MMM
Guidance Update
New Projects/Investments
- Innovation acceleration: launched 196 products in the first nine months (up 70% YoY) and expects ~250 launches for 2025, with a vitality index rising from 10% to 12% YTD and pipeline additions outpacing launches.
- Commercial excellence gains: implemented sales‐force rigor, channel cross‐selling initiatives and AI‐driven churn reduction, driving SIBG growth from –6% to +4% over 11 quarters.
- 2026 outlook: planning for macro conditions similar to the 2025 exit rate, aiming to outgrow the market via innovation and productivity, targeting high-single-digit EPS growth and on track to 2027 margin goals.
- Productivity and margin expansion: achieved 220 bps YTD operating margin improvement (ahead of 2027 target pace) through G&A cost savings and quality‐cost reductions (down ~$100 M, now 5.7% of COGS, targeting <4%).
Dec 4, 2025, 1:00 PM
3M details transformation progress and capital allocation priorities
MMM
Product Launch
Share Buyback
Revenue Acceleration/Inflection
- CEO Bill Brown reiterated 3M’s three priorities—growth, operational performance, and capital deployment—highlighting progress toward targets of $1 bn macro-adjusted growth, 25% operating margin by 2027, and $10 bn cash returns over three years.
- Innovation engine revitalized: 196 new product launches in the first nine months (up 70% YoY), projected ~250 for the full year (double two years ago), with five-year new product sales up 16% YTD and a vitality index aiming for 20% by 2027.
- Commercial excellence initiative driving SIBG turnaround from –6% to +4% growth over 11 quarters; over $120 m in cross-sell opportunities and $30 m annualized wins, with global rollout to other segments under way.
- Operating margin expanded 220 bps YTD, led by G&A productivity gains and quality-cost reduction to 5.7% of COGS (down $100 m YoY), with 2024 margin at 21.4% and target 25% by 2027.
- Cash conversion at >100% of net income in 2025 expected to sustain through 2026; inventory at 100 days vs. 75-day target; $4 bn returned via buybacks YTD, $600 m in growth investments, ~1× leverage maintained, and passive Solventum stake to be monetized within five years.
Dec 4, 2025, 1:00 PM
3M announces Q3 2025 results
MMM
Earnings
Guidance Update
Share Buyback
- 3M reported Q3 sales of $6.318 B with 3.2% organic growth, an operating margin of 24.7%, EPS of $2.19, and free cash flow of $1.3 B (111% conversion).
- Updated full-year guidance: organic sales growth >2%, operating margin expansion of 180–200 bps, EPS of $7.95–$8.05, and free cash flow conversion >100%.
- Returned $0.9 B in capital to shareholders in Q3 ( $0.5 B share repurchases, $0.4 B dividends), totaling $3.9 B YTD.
Oct 21, 2025, 1:00 PM
Quarterly earnings call transcripts for 3M.
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