3M Company (MMM) Earnings
3M Company is expected to report next earnings on July 17, 2026 (in NaN days), with a consensus EPS estimate of $2.24. MMM has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +5.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $1.98 | $2.14 | +8.1% | $6.0B | -0.1% |
| Jan 20, 2026 | $1.80 | $1.83 | +1.7% | $6.1B | +2.1% |
| Oct 21, 2025 | $2.07 | $2.19 | +5.8% | $6.5B | +4.3% |
| Jul 18, 2025 | $2.01 | $2.16 | +7.5% | $6.3B | +3.7% |
| Apr 22, 2025 | $1.78 | $1.88 | +5.6% | $6.0B | +3.4% |
| Jan 21, 2025 | $1.67 | $1.68 | +0.6% | $6.0B | +3.9% |
| Oct 22, 2024 | $1.91 | $1.98 | +3.7% | $6.3B | +3.9% |
| Jul 26, 2024 | $1.68 | $1.93 | +14.9% | $6.3B | +6.8% |
| Apr 30, 2024 | $2.10 | $2.39 | +13.8% | $8.0B | +4.9% |
| Jan 23, 2024 | $2.31 | $2.42 | +4.8% | $8.0B | +4.0% |
| Jul 25, 2023 | $1.65 | $2.17 | +31.5% | $8.3B | +5.8% |
| Jan 24, 2023 | $2.34 | $2.28 | -2.6% | $8.1B | +0.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 21, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Delivered solid operating performance in Q1 with EPS $2.14 up mid-teens, operating margin 23.8% up 30bps, free cash flow over $500M up double digits. • Returned $2.4B to shareholders. • Organic growth 1.2% with encouraging order trends. • Strong execution on productivity, cost discipline, commercial rigor. • Introduced AI tools for growth, reduced churn, automated work. • Accelerated new product introductions with 84 launched in Q1, on pace for 350 in 2026. • Maintained OTIF service levels >90%, reduced inventory 3 days, delivery lead time 25%, OEE up over 100bps, cost of poor quality down ~100bps. • Announced acquisition of Madison Fire & Rescue to create leading global fire and safety business. • Growing data center and associated power utility business with EBO product.
Guidance
• Reiterating full year 2026 guidance: organic sales growth ~3%, EPS $8.50 - $8.70, free cash flow conversion >100%. • Sales expected to accelerate in Q2 and back half of year. • Margins expect ~100bps expansion for business groups. • FCF expected >$4.5B for year. • Contingency in EPS guidance due to volatile macro environment.
Segment performance
Safety and Industrial had over 3% growth, driven by commercial excellence and new product launches. Transportation and Electronics had flat growth but orders up low teens with backlog up ~30%. Consumer had organic sales down 1% with some pockets of strength. Organic growth was 1.2% overall. SIBG grew over 3%, TEBG was flat, CBG down 1%. Orders grew over 10% with SIBG and TEBG growing mid-teens.
Risks & headwinds
• Macro environment volatility. • Oil price impact on input costs. • Supply chain risks including potential bottlenecks in sulfur, helium, methanol derivative chains. • Uncertainty in consumer spending and industry-specific softness in certain segments like consumer electronics and auto.
Analyst Q&A
Q: Jeff Sprague asked about pre-buy, size, and backlog visibility.
A: Bill and Anurag discussed pre-buy related to price increases, backlog growth and its significance.
Q: Scott Davis asked about factory footprint.
A: William Brown talked about factory footprint reduction and ongoing efforts.
Q: Julian Mitchell asked about Q2 dynamics and EPS.
A: Anurag Maheshwari provided details on Q2 revenue growth, margin and EPS expectations.
Q: Joseph O'Dea asked about oil exposure and commercial excellence in T&E.
A: Anurag and William Brown answered on oil impact and progress in T&E commercial excellence.
Q: Andrew Obin asked about consumer electronics strategy and R&D.
A: William Brown discussed consumer electronics strategy and R&D efforts.
Q: Andrew Kaplowitz asked about Consumer portfolio management.
A: William Brown talked about Consumer performance and portfolio management.
Q: Chigusa Katoku asked about contingency removal and macro outlook.
A: Anurag Maheshwari responded on contingency and macro trends.
Q: Nigel Coe asked about pre-buy and price surcharge.
A: William Brown discussed pre-buy and price surcharge details.
Q: Christopher Snyder asked about pricing and delivery.
A: William Brown and Anurag Maheshwari answered on pricing rollout and delivery.
Q: Amit Mehrotra asked about growth algorithm.
A: Anurag Maheshwari spoke on growth outlook.
Q: Deane Dray asked about POS momentum and EBO.
A: William Brown discussed POS momentum and EBO opportunities.
Q: Nicole DeBlase asked about margin puts and takes.
A: Anurag Maheshwari and William Brown answered on margin related aspects.
Q: Laurence Alexander asked about supply chain bottlenecks.
A: William Brown addressed supply chain bottleneck concerns