Companies /Industrials

3M Company

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

Q1 2026 Earnings

Reported Apr 21, 2026, 6:34am ET · SEC source
$2.14
Beat +7.92%
EPS · est. $1.98
$6.0B
Beat +0.47%
Revenue · est. $6.0B
−3.4%
Trailing market
MMM vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Apr 21Apr 22report 6:34am ETearnings−0.2%−5.5%
−6%−3%0Apr 21Apr 22earnings−0.2%−5.5%
MMM −5.5%S&P 500 −0.2%
−6%−3%0Apr 21Apr 22report 6:34am ETearnings+0.5%−5.5%
−6%−3%0Apr 21Apr 22earnings+0.5%−5.5%
MMM −5.5%NASDAQ +0.5%
−4%−2%0+2%Apr 20Apr 28report 6:34am ETearnings+0.0%−2.6%
−4%−2%0+2%Apr 20Apr 28earnings+0.0%−2.6%
MMM −2.6%S&P 500 +0.0%
−4%−2%0+2%Apr 20Apr 28report 6:34am ETearnings+1.3%−2.6%
−4%−2%0+2%Apr 20Apr 28earnings+1.3%−2.6%
MMM −2.6%NASDAQ +1.3%
−1.94%
Day of report
−1.81%
Next session
−1.64%
One week
+2.11%
30 days

S&P 500 over the same 30 days: +5.49%.

Did MMM Beat Earnings? Q1 2026 Results

3M delivered a confident beat to open 2026, posting adjusted EPS of $2.14 against the $1.98 consensus estimate, an 8.08% positive surprise that extended the industrial conglomerate's streak to four consecutive quarters of beating EPS expectations. Revenue of $6.03 billion grew 1.3% year-over-year, and while GAAP EPS fell sharply to $1.23 due largely to a $356.00 million decline in the value of its retained Solventum stake, the adjusted picture told a more encouraging story: operating margin expanded 30 basis points to 23.8%, and Safety and Industrial, the company's largest segment, drove momentum with 3.2% organic growth and $2.93 billion in sales. Operating cash flow swung decisively positive to $574.00 million from negative $79.00 million a year ago, supported by lower litigation-related outflows, even as 3M returned $2.41 billion to shareholders through buybacks and dividends. The company reaffirmed full-year guidance of adjusted EPS between $8.50 and $8.70, with adjusted organic sales growth of roughly 3%, signaling management's confidence that its ongoing portfolio simplification strategy is gaining durable traction.

Key Takeaways
  • Safety and Industrial segment delivered 3.2% organic sales growth, led by Personal Safety and Industrial Adhesives and Tapes
  • Favorable foreign currency translation contributed 2.8 percentage points to total sales growth
  • Adjusted operating margin expanded 30 basis points to 23.8% through operational execution
  • China delivered 4.0% adjusted organic growth, strongest among geographic regions
  • Lower share count from buybacks supported adjusted EPS growth of 14%

“We are executing on 3M's value creation framework to build a stronger company. Our focus remains on improving execution of the fundamentals and transforming the company by simplifying and standardizing our processes and footprint and reshaping the portfolio. Together, these actions will drive structurally higher growth and stronger margin performance, while improving enterprise resilience and predictability.”

3M CEO, on the earnings call

Forward Guidance & Outlook

3M reiterated its full-year 2026 guidance: adjusted total sales growth of ~4% (reflecting ~3% adjusted organic growth and ~1% translation); adjusted operating income margin expansion of 70-80 basis points; adjusted EPS of $8.50 to $8.70; adjusted operating cash flow of $5.6 to $5.8 billion contributing to >100% adjusted free cash flow conversion; and an adjusted effective tax rate of ~20%. Management expressed confidence in achieving guidance despite a volatile operating environment.

MMM YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$2.0B$4.0B$6.0B$6.0B$6.0BRevenue$2.4B$2.5BGross Profit$1.2B$1.4BOperating Income$1.1B$653.0MNet Income
$0$2.0B$4.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

MMM Revenue by Segment

Safety and Industrial$2.9B+6.8%
Transportation and Electronics$1.8B+1.8%
Consumer$1.1B+0.6%
Personal Safety$912.0M+7.3%
Electronics$577.0M−15.3%
Commercial Branding and Transportation$640.0M+3.9%
Industrial Adhesives and Tapes$604.0M+11.2%
Automotive and Aerospace$484.0M+1.9%

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