Q1 26 EPS
$2.14
BEAT +7.92%
Est. $1.98
Q1 26 Revenue
$6.03B
BEAT +0.47%
Est. $6.00B
vs S&P Since Q1 26
-3.6%
TRAILING MARKET
MMM +3.7% vs S&P +7.2%
Market Reaction
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. Re… Read more 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%
MMM 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, source: SEC Filings
MMM Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— William Brown, Q1 2026 Earnings Press Release
MMM Earnings Trends
MMM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MMM EPS Trend
Earnings per share: estimate vs actual
MMM Revenue Trend
Quarterly revenue: estimate vs actual
MMM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.98 | $2.14 | +7.92% | $6.03B | +0.47% |
| Q4 25 BEAT FY | $1.80 | $1.83 | +1.71% | $6.13B | +2.07% |
| FY Full Year | $8.02 | $8.06 | +0.46% | $24.95B | +2.84% |
| Q3 25 BEAT | $2.07 | $2.19 | +5.62% | $6.52B | +4.24% |
| Q2 25 BEAT | $2.01 | $2.16 | +7.55% | $6.34B | +4.84% |
| Q1 25 BEAT | $1.77 | $1.88 | +6.42% | $5.95B | +3.92% |