3M (MMM) Q4 2025 Earnings
How Did MMM Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: +1.75%.
Did MMM Beat Earnings? Q4 2025 Results
Yes. 3M reported Q4 2025 earnings of $1.83 a share on Jan 20, 2026, beating the $1.80 consensus estimate by 1.7%. Revenue was $6.1B against a $6.0B estimate.
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.
- 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
What Was 3M's Outlook in Q4 2025?
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
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $6.1B | $6.0B | +2.1% |
| Operating Income | $796.0M | $1.1B | −27.2% |
| Net Income | $577.0M | $728.0M | −20.7% |
MMM Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.