3M 发布 Q3 2026 财报：调整后 EPS $2.50 同比+12% 并上调全年指引至 $9.10–9.15，但超预期幅度温和、部分来自口径与并购，盘前涨幅已回落

3M Reports Third-Quarter 2026 Results; Raises Full-Year EPS Guidance
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Q3 GAAP sales of $6.6 billion, up 1.0%; operating margin of 23.7%, up 150 bps; EPS of $2.63, up 70%, all YoY
Adjusted sales of $6.6 billion with organic growth of 3.3% YoY
Adjusted operating margin of 26.2% on new basis
1
, up 110 bps YoY
Adjusted EPS of $2.50 on new basis
1
, up 12% YoY
Q3 operating cash flow of $0.5 billion with adjusted free cash flow of $1.2 billion
2026 adjusted EPS guidance raised to $9.10 to $9.15, incorporating new basis
1
SAINT PAUL, Minn.
,
Oct. 20, 2026
/
PRNewswire
/ -- 3M (NYSE: MMM) today reported third-quarter results.
"We delivered another quarter of strong results, including solid sales growth, continued margin expansion, double-digit EPS growth, and robust free cash flow," said William Brown, 3M Chairman and CEO. "Improving productivity through structural transformation and a stronger pipeline of differentiated technologies reinforce our confidence in the full-year outlook and long-term growth and margin potential. I want to thank the 3M team for their focus on customers and disciplined execution, which continues to strengthen our performance and create shareholder value."
Third-quarter highlights:
Q3 2026
Q3 2025
GAAP EPS
$      2.63
$      1.55
Special items:
Loss on business divestitures
—
0.30
(Increase) decrease in value of Solventum ownership
(0.60)
0.13
Net costs for significant litigation and PFAS exit
0.19
0.19
Transformation costs
0.08
0.02
Amortization and business acquisition-related costs
0.20
0.04
Adjusted EPS
$      2.50
$      2.23
Memo:
GAAP operating income margin
23.7 %
22.2 %
Adjusted operating income margin
26.2 %
25.1 %
Adjusted (non-GAAP) reporting updated to treat amortization of intangible assets as a special item for all periods presented; no material year-on-year impact on new basis.
GAAP EPS of $2.63 and operating margin of 23.7%.
Adjusted EPS of $2.50, up 12% year-on-year.
Adjusted operating income margin of 26.2%, up 110 basis points year-on-year.
GAAP
Adjusted (non-GAAP)
Net sales (billions)
$6.6
$6.6
Sales change
Total sales
1.0 %
4.2 %
Components of sales change:
Organic sales
0.2
3.3
Acquisitions/divestitures
0.9
0.9
Translation
(0.1)
—
Adjusted sales excludes manufactured PFAS products.
Sales of $6.6 billion, up 1.0% year-on-year with organic sales up 0.2% year-on-year.
Adjusted sales of $6.6 billion, up 4.2% year-on-year with adjusted organic sales up 3.3% year-on-year.
3M returned $0.6 billion to shareholders via dividends and share repurchases.
Cash from operations of $0.5 billion.
Adjusted free cash flow of $1.2 billion.
1
New basis: Updated non-GAAP reporting treats intangible asset amortization as a special item for all periods presented. The change increases base Q3 adjusted operating income margin by approximately 40 bps and adjusted EPS by approximately $0.04. Year-on-year comparisons are not materially impacted as all periods are reflected on the same basis.
Strategic and operational highlights
The following are recently announced highlights:
3M entered into an expanded strategic commercial relationship with Amazon to deploy and scale 3M's optical connectivity and other Data Center related products.
3M issued a warrant to Amazon to purchase up to 3.2 million shares of 3M common stock based upon the achievement of $6 billion in cumulative sales of optical connectivity and other Data Center related products over the next seven years, and other event-based milestones.
3M is collaborating with Genius Electronic Optical Co., Ltd. (GSEO),
an optical technology company, to advance technology development and manufacturing for 3M's Expanded Beam Optics (EBO) solutions. In support of these efforts, 3M is investing to acquire ~4.7% of GSEO's common shares. The collaboration brings together 3M's EBO technology leadership, optical interconnect expertise, materials science, manufacturing scale and customer relationships with GSEO's precision optics manufacturing capabilities and production scale.
3M introduced Cooling Film technology for fleet and rail applications
, expanding its portfolio of thermal management solutions for transportation customers. Applied to vehicle roofs, the highly reflective performance film uses thermal management technology to reduce heat buildup and help keep interiors noticeably cooler.
3M showcased how its materials science expertise supports innovation in golf equipment through its collaboration with PING
. By pairing PING's expertise in club design and custom manufacturing with 3M's broad portfolio of materials science solutions, the two companies can collaborate on engineering solutions that turn complex technical challenges into repeatable, high-quality results on the course.
3M and BOE established a joint innovation laboratory to accelerate next-generation display technology development.
The joint research and development platform brings together BOE's display innovation and end-use application expertise with 3M's materials science capabilities to accelerate higher-performance solutions across LCD, OLED and MLED applications, including improvements in light efficiency, foldable displays and ultra-narrow bezel processes.
3M continued to expand its work with U.S. and international government customers, with third-quarter awards supporting defense, health care, and emergency response needs. Awards included PELTOR™ communication and hearing protection solutions for various U.S. military services and Scott SCBAs for the U.S. Navy, respirator and SCBA products for the National Institutes of Health, and respirators for international customers, reflecting 3M's growing work with government partners around the world.
Updated full-year 2026 guidance
3M provided an update to the full-year 2026 guidance provided on July 21, 2026, incorporating the company's performance year-to-date, the acquisition of Madison Fire & Rescue, and a change in non-GAAP treatment of amortization.
Adjusted total sales growth
2
of >4.5 percent, reflecting adjusted organic sales growth
2
of >3.5 percent.
Adjusted EPS
2
of $9.10 to $9.15.
Adjusted operating cash flow
2
of ~$5.9 billion with adjusted free cash flow of ~$4.8 billion.
2
As further discussed at
5
within the "Supplemental Financial Information Non-GAAP Measures" sections, 3M cannot, without unreasonable effort, forecast certain items required to develop meaningful comparable GAAP financial measures and, therefore, does not provide them on a forward-looking basis reflecting these items.
Conference call
3M will conduct an investor teleconference at 9 a.m. ET (8 a.m. CT) today. Investors can access this conference via the following:
Live webcast at
https://investors.3M.com
Webcast replay at
https://investors.3m.com/financials/quarterly-earnings
Consolidated financial statements and supplemental financial information non-GAAP measures
View the Financial Statement Information on 3M's website:
https://investors.3m.com/financials/quarterly-earnings
Forward-looking statements
Certain statements in this document, as well as other filings we make with the United States Securities and Exchange Commission ("SEC") and other written and oral information we release are considered "forward-looking statements" under the federal securities laws, including the Private Securities Litigation Reform Act of 1995, as amended ("PSLRA"). Forward-looking statements may appear throughout this document and are typically identified by the words "aim," "anticipate," "believe," "can," "continue," "could," "estimate," "evaluate," "expect," "forecast," "future," "goal," "guidance," "impact," "initial," "intend," "likely," "may," "outlook," "plan," "possible," "potential," "predict," "probable," "project," "seek," "should," "strategy," "target," "will," "would," and other words that are similar to, or have the opposite meanings of, those words.
All forward-looking statements are intended to enjoy the protection of the PSLRA's safe harbor for forward-looking statements, as well as the protections provided by other securities laws. Forward-looking statements speak only as of the date they are made and the Company assumes no obligation to update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
Although the Company believes it has a reasonable basis for the forward-looking statements it makes, those statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties. Changes in those assumptions, expectations, or other factors could produce materially different results. The most important risks, uncertainties, and other factors that could cause the Company's actual results to differ from the Company's forward-looking statements include: (1) worldwide economic, political, regulatory, international trade, geopolitical, tariffs, and retaliatory countermeasures, capital markets, and other external conditions, (2) foreign currency exchange rates and fluctuations in those rates, (3) liabilities and contingencies related to PFAS, including liabilities related to claims, lawsuits, and government regulatory proceedings concerning various PFAS-related products and chemistries, as well as risks related to the Company's exit of PFAS manufacturing and work to discontinue use of PFAS across its product portfolio, (4) risks related to the PWS Settlement to resolve claims by public water suppliers in the United States regarding PFAS, as well as risks related to ongoing PFAS-related settlements and claims, (5) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's reports on Form 10-K, 10-Q, and 8-K, as well as compliance risks related to legal or regulatory requirements, government contract requirements, policies and practices, or other matters that require or encourage the Company or its customers, suppliers, vendors, or channel partners to conduct business in a certain way, (6) competitive conditions and customer preferences, (7) the timing and market acceptance of new product and service offerings, (8) the availability and cost of purchased components, compounds, raw materials and energy due to shortages, increased demand and wages, tariffs, supply chain interruptions, or natural or other disasters, (9) unanticipated problems or delays when implementing new business systems and solutions, including with the phased implementation of a global enterprise resource planning system, or security breaches and other disruptions to the Company's information or operational technology infrastructure, (10) use of artificial intelligence technologies, (11) the impact of acquisitions, strategic alliances, divestitures, and other strategic events resulting from portfolio management actions and other evolving business strategies, (12) operational execution, including the extent to which the Company can realize the benefits of planned productivity improvements, as well as the impact of organizational restructuring activities, (13) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans, (14) the Company's credit ratings and its cost of funding, (15) tax-related external conditions, including changes in tax rates, laws, or regulations, (16) matters relating to the Company's Aearo Entities, Combat Arms Earplugs Settlement, and related products, and (17) matters relating to the spin-off of Solventum, the Company's former Health Care business, into an independent public company.
Those risks, uncertainties, and other factors are further described in Part I, Item 1A, "Risk Factors" of the Company's Form 10-K for the year ended December 31, 2025. For additional information concerning factors that may cause actual results to differ materially from the Company's forward-looking statements, see the Company's reports on Form 10-K, 10-Q, and 8-K filed with the SEC from time to time.
About 3M
3M (NYSE: MMM) is focused on transforming industries around the world by applying science and creating innovative, customer-focused solutions. Our multi-disciplinary team is working to solve tough customer problems by leveraging diverse technology platforms, differentiated capabilities, global footprint, and operational excellence. Discover how 3M is shaping the future at
3M.com/news
.
Please note that the company announces material financial, business and operational information using the 3M investor relations website, SEC filings, press releases, public conference calls and webcasts. The company also uses the 3M News Center and social media to communicate with our customers and the public about the company, products and services and other matters. It is possible that the information 3M posts on the News Center and social media could be deemed to be material information. Therefore, the company encourages investors, the media and others interested in 3M to review the information posted on 3M's News Center and the social media channels such as @3M or @3MNews.
Contacts
3M
Investor Contact:
Diane Farrow, 612-202-2449
Media Contact:
3MNews@mmm.com
SOURCE 3M Company
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