Companies /Industrials

3M Company

NYSE: MMM Conglomerates
$173.75
▼ $5.08 (−2.84%) today
Markets open · 12:07pm ET

Q1 2025 Earnings

Reported Apr 22, 2025, 6:36am ET · SEC source
$1.88
Beat +6.42%
EPS · est. $1.77
$6.0B
Beat +3.92%
Revenue · est. $5.7B
−0.7%
Trailing market
MMM vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+4%+8%+12%Apr 22Apr 23report 6:36am ETearnings+3.6%+8.1%
0+4%+8%+12%Apr 22Apr 23earnings+3.6%+8.1%
MMM +8.1%S&P 500 +3.6%
0+5%+10%Apr 22Apr 23report 6:36am ETearnings+4.4%+8.1%
0+5%+10%Apr 22Apr 23earnings+4.4%+8.1%
MMM +8.1%NASDAQ +4.4%
0+5%+10%Apr 21Apr 30report 6:36am ETearnings+6.4%+10.5%
0+5%+10%Apr 21Apr 30earnings+6.4%+10.5%
MMM +10.5%S&P 500 +6.4%
0+5%+10%Apr 21Apr 30report 6:36am ETearnings+8.0%+10.5%
0+5%+10%Apr 21Apr 30earnings+8.0%+10.5%
MMM +10.5%NASDAQ +8.0%
+8.12%
Day of report
−0.20%
Next session
+1.50%
One week
+9.87%
30 days

S&P 500 over the same 30 days: +10.59%.

Did MMM Beat Earnings? Q1 2025 Results

3M opened 2025 with a quarter that exceeded Wall Street's expectations on both the top and bottom lines, as the industrial conglomerate posted adjusted earnings per share of $1.88, beating the consensus estimate of $1.77 by 6.42%, while revenue of $5.95 billion came in 3.92% above forecasts. The stronger-than-expected profitability was driven primarily by a 220 basis point expansion in adjusted operating margins to 23.5%, reflecting CEO William Brown's ongoing push to instill a leaner performance culture across the organization. GAAP revenue slipped 1.0% year over year, pressured by a 1.7% foreign currency headwind and the deliberate wind-down of PFAS product sales, though adjusted organic growth told a more constructive story. Safety and Industrial was the standout segment, delivering 2.5% organic growth, while China posted adjusted organic growth of 5.2%. Looking ahead, 3M maintained its full-year adjusted EPS guidance of $7.60 to $7.90 but flagged a tariff sensitivity of $0.20 to $0.40 per share, reflecting uncertainty tied to the evolving U.S.-China trade environment.

Key Takeaways
  • Adjusted operating margin expansion of 220 basis points year-over-year to 23.5%
  • Adjusted organic sales growth of 1.5% driven by Safety and Industrial segment
  • Safety and Industrial organic growth of 2.5%, led by Electrical Markets and Industrial Adhesives and Tapes
  • Adjusted Asia Pacific organic sales growth of 3.1%, with China at 5.2%
  • $343 million gain from increase in Solventum ownership value boosted GAAP EPS
  • $1.7 billion returned to shareholders through dividends and share repurchases

“We had strong results in the first quarter with positive organic sales growth, margins ahead of expectations and double-digit EPS growth.”

3M CEO, on the earnings call

Forward Guidance & Outlook

3M provided 2025 adjusted EPS guidance of $7.60 to $7.90, with additional tariff sensitivity of $(0.20) to $(0.40) per share. The company cannot forecast certain special items required for GAAP guidance, including net costs for significant litigation, projected divestiture gains, changes in value of Solventum ownership, and net sales/income from exited manufactured PFAS products.

MMM YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$2.0B$4.0B$6.0B$6.0B$6.0BRevenue$2.5B$2.5BGross Profit$1.2B$1.2BOperating Income$928.0M$1.1BNet Income
$0$2.0B$4.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

MMM Revenue by Segment

Safety and Industrial$2.7B+0.5%
Transportation and Electronics$2.0B−5.4%
Consumer$1.1B−1.4%
Personal Safety$850.0M
Electronics$681.0M
Commercial Branding and Transportation$616.0M
Industrial Adhesives and Tapes$543.0M
Automotive and Aerospace$475.0M

Figures from SEC filings and company reports. Not investment advice.