Companies /Industrials

3M Company

NYSE: MMM Conglomerates
$178.83
▼ $1.17 (−0.65%) today
Markets closed · 11:18pm ET

Q4 2025 Earnings

Reported Jan 20, 2026, 6:34am ET · SEC source
$1.83
Beat +1.71%
EPS · est. $1.80
$6.1B
Beat +2.07%
Revenue · est. $6.0B
+5.3%
Beating market
MMM vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Jan 20Jan 21report 6:34am ETearnings−0.1%−5.8%
−6%−3%0Jan 20Jan 21earnings−0.1%−5.8%
MMM −5.8%S&P 500 −0.1%
−6%−3%0Jan 20Jan 21report 6:34am ETearnings+0.2%−5.8%
−6%−3%0Jan 20Jan 21earnings+0.2%−5.8%
MMM −5.8%NASDAQ +0.2%
−6%−3%0+3%Jan 20Jan 27report 6:34am ETearnings+2.4%−4.3%
−6%−3%0+3%Jan 20Jan 27earnings+2.4%−4.3%
MMM −4.3%S&P 500 +2.4%
−4%0+4%Jan 20Jan 27report 6:34am ETearnings+4.2%−4.3%
−4%0+4%Jan 20Jan 27earnings+4.2%−4.3%
MMM −4.3%NASDAQ +4.2%
−6.96%
Day of report
−0.15%
Next session
+1.24%
One week
+7.01%
30 days

S&P 500 over the same 30 days: +1.75%.

Did MMM Beat Earnings? Q4 2025 Results

3M closed out fiscal 2025 on a strong note, posting Q4 adjusted EPS of $1.83 against a consensus estimate of $1.79, a 2.23% beat, while revenue of $6.13 billion topped the $5.44 billion estimate by 12.67% and rose 2.0% year-over-year. The standout driver was continued margin expansion under CEO William Brown's transformation agenda, with adjusted operating margin climbing 140 basis points to 21.1%, reflecting the kind of <a href="https://247wallst.com/investing/2025/12/03/3m-expands-margins-while-honeywell-absorbs-restructuring-pressure/">operational discipline that has defined</a> 3M's recent repositioning. Safety and Industrial led segment performance with 3.8% organic sales growth, though GAAP results were weighed down by $185 million in PFAS litigation costs and $235 million in PFAS product exit charges, pushing GAAP EPS to $1.07, down 20% year-over-year. With the company completing its exit from manufactured PFAS products by year-end, management is now focused on growth, guiding 2026 adjusted EPS to $8.50 to $8.70 alongside approximately 3% organic sales growth and 70 to 80 basis points of further margin expansion, though a JPMorgan downgrade citing lingering PFAS valuation risks signals that not all investors are fully convinced the worst is behind them.

Key Takeaways
  • Safety and Industrial segment organic sales growth of 3.8% in Q4
  • Adjusted operating margin expansion of 140 bps in Q4 to 21.1%
  • Operating rigor and productivity improvements driving margin expansion
  • Strong adjusted free cash flow conversion of 131% in Q4 and 100% for full year
  • Full-year adjusted EPS growth of 10% YoY

“2025 was an important year for 3M as we build a strong foundation that is reshaping our operating model and driving sustainable value creation.”

3M CEO, on the earnings call

Forward Guidance & Outlook

For full-year 2026, 3M guided to adjusted total sales growth of approximately 4%, reflecting adjusted organic sales growth of approximately 3% and approximately 1% from translation. The company expects adjusted operating income margin expansion of 70 to 80 basis points, adjusted EPS in the range of $8.50 to $8.70, an adjusted effective tax rate of approximately 20%, and adjusted operating cash flow of $5.6 to $5.8 billion contributing to greater than 100% adjusted free cash flow conversion. Adjusted free cash flow is expected to be $4.6 to $4.8 billion with approximately $1.1 billion in capital expenditures. Management expressed confidence in meeting or exceeding the 2027 financial commitments outlined at its Investor Day.

MMM YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$2.0B$4.0B$6.0B$6.0B$6.1BRevenue$1.1B$796.0MOperating Income$728.0M$577.0MNet Income
$0$2.0B$4.0B$6.0BRevenueOperating IncomeNet Income

MMM Revenue by Segment

Safety and Industrial$2.9B+6.0%
Transportation and Electronics$2.0B−1.7%
Consumer$1.2B−1.2%
Personal Safety$917.0M
Electronics$700.0M
Commercial Branding and Transportation$606.0M
Industrial Adhesives and Tapes$568.0M
Automotive and Aerospace$468.0M

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