Inferra AI / Company / MMM

3M

MMM · Industrials

Last earnings Oct 20, 2026

Key results

YoY Adjusted operating marginquarter

24.7%

YoY Adjusted operating margin of 24.7%, up 170 bps YoY Adjusted EPS of $2.19, up 10% YoY

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

YoY EPSquarter

$2.19

YoY Adjusted operating margin of 24.7%, up 170 bps YoY Adjusted EPS of $2.19, up 10% YoY

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Growthquarter

up 10%

YoY Adjusted operating margin of 24.7%, up 170 bps YoY Adjusted EPS of $2.19, up 10% YoY

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Operating marginquarter

22.2%

operating margin of 22.2%.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Adjusted operating incomequarter

24.7%

Adjusted operating income margin of 24.7%, an increase of 170 basis points year-on-year.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Adjusted free cash flowquarter

$1.3 billion

Adjusted free cash flow of $1.3 billion.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

AI analysis

Q3 2025 · reported Oct 21, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

YoY EPS · Q3 2025

$2.19

EX-99 · Oct 21, 2025

Adjusted free cash flow · Q3 2025

$1.3B

EX-99 · Oct 21, 2025

YoY Adjusted operating margin · Q3 2025

24.7%

EX-99 · Oct 21, 2025

Operating margin · Q3 2025

22.2%

EX-99 · Oct 21, 2025

Headline figures

Metric	Q3 2025	Prior qtr	Year ago
YoY Adjusted operating margin	24.7%	—	—
YoY EPS	$2.19	—	—
Growth	up 10%	—	—
Operating margin	22.2%	—	—
Adjusted operating income	24.7%	—	—
Adjusted free cash flow	$1.3 billion	—	—

EX-99 · Oct 21, 2025

Guidance · company-stated

Direction: Raised

Revenue$6.5 billion

“htm EX-99.1 Document Exhibit 99.1 3M Delivers Strong Third-Quarter Results Increases Full-Year Margin and EPS Guidance GAAP sales of $6.5 billion, up 3.5% operating margin 22.2%, up 130 bps EPS of $1.55, down 38%, all YoY Adjusted sales of $6.3 billion with organic growth of 3.2% YoY Adjusted operating margin of 24.7%, up 170 bps YoY Adjusted EPS of $2.19, up 10% YoY Operating cash flow of $1.8 billion with adjusted free cash flow of $1.3 billion 2025 adjusted EPS guidance increased from $7.75 - $8.00 to $7.95 - $8.05 ST.”

EPS — Raised

“This progress gives us the confidence to raise our full-year margin and EPS guidance which positions us well to achieve the strategic and financial commitments we made at our Investor Day earlier this year.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Margin

YoY Adjusted operating margin24.7%

Operating margin22.2%

Cash flow & capex

Adjusted free cash flow$1.3B

Capital allocation

Dividend$0.9B

3M returned $0.9 billion to shareholders via dividends and share repurchases.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

3M Q3 2025 — YoY Adjusted operating margin of 24.7%, up 170 bps YoY Adjusted EPS of $2.19, up 10% YoY

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue: “htm EX-99.1 Document Exhibit 99.1 3M Delivers Strong Third-Quarter Results Increases Full-Year Margin and EPS Guidance GAAP sales of $6.5 billion, up 3.5% operating margin 22.2%, up 130 bps EPS of $1.55, down 38%, all YoY Adjusted sales of $6.3 billion with organic growth of 3.2% YoY Adjusted operating margin of 24.7%, up 170 bps YoY Adjusted EPS of $2.19, up 10% YoY Operating cash flow of $1.8 billion with adjusted free cash flow of $1.3 billion 2025 adjusted EPS guidance increased from $7.75 - $8.00 to $7.95 - $8.05 ST.”

Revenue — Raised (“Increases”)
“htm EX-99.1 Document Exhibit 99.1 3M Delivers Strong Third-Quarter Results Increases Full-Year Margin and EPS Guidance GAAP sales of $6.5 billion, up 3.5% operating margin 22.2%, up 130 bps EPS of $1.55, down 38%, all YoY Adjusted sales of $6.3 billion with organic growth of 3.2% YoY Adjusted operating margin of 24.7%, up 170 bps YoY Adjusted EPS of $2.19, up 10% YoY Operating cash flow of $1.8 billion with adjusted free cash flow of $1.3 billion 2025 adjusted EPS guidance increased from $7.75 - $8.00 to $7.95 - $8.05 ST.”

EPS — Raised (“raise”)
“This progress gives us the confidence to raise our full-year margin and EPS guidance which positions us well to achieve the strategic and financial commitments we made at our Investor Day earlier this year.”

Classified from the release's primary full-year outlook statement.

Capital allocation

3M returned $0.9 billion to shareholders via dividends and share repurchases.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

3M defines adjusted purchases of property, plant and equipment (also referred to as adjusted capital expenditures) as purchases of property, plant and equipment (PPE) adjusted for the estimated impact of such purchases associated with manufactured PFAS products activity.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Therefore, in the context of amounts used in the determination of non-GAAP measures associated with cash flow and adjusted free cash flow conversion, this special item further includes the broader extent of such costs that included within discontinued operations, including interest expense on debt issued by Solventum for the period outstanding prior to the April 1, 2024 completion of the separation of Solventum from 3M and net tax costs of entity structuring associated with the separation of Solventum.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

1.500% Notes due 2026 MMM26 New York Stock Exchange 3.500% Notes due 2028 MMM28A New York Stock Exchange 1.750% Notes due 2030 MMM30 New York Stock Exchange 1.500% Notes due 2031 MMM31 New York Stock Exchange 3.900% Notes due 2031 MMM31A New York Stock Exchange 4.100% Notes due 2034 MMM34 New York Stock Exchange Note: The common stock of the Registrant is also traded on the SIX Swiss Exchange.

SEC original ↗3M — 10-Q Quarterly report10-QOct 20, 2026

Long-Term Debt and Short-Term Borrowings 14 Note 12.

SEC original ↗3M — 10-Q Quarterly report10-QOct 20, 2026

The venture utilized the contribution and drew on its term loan facility (as discussed in Note 11) to purchase Madison.

SEC original ↗3M — 10-Q Quarterly report10-QOct 20, 2026

Strategy & priorities

I am very pleased with our teams focus on reinvigorating organic top-line growth and improving operational performance resulting in another strong quarter, said William Brown, 3M Chairman and CEO.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

This progress gives us the confidence to raise our full-year margin and EPS guidance which positions us well to achieve the strategic and financial commitments we made at our Investor Day earlier this year.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Adjusted operating income margin expansion 1 of 180 bps to 200 bps.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

3M does not consider the elements of the net costs associated with these matters to be normal, operating expenses related to the Company s ongoing operations, revenue generating activities, business strategy, industry, and regulatory environment.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Accordingly, 3M does not consider the nature or effect of this program to be normal, operating expenses related to the Company s ongoing operations, revenue generating activities, and day-to-day business strategy.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Risks & headwinds

Third-quarter highlights Q3 2025 Q3 2024 GAAP EPS from continuing operations (GAAP EPS) $ 1.55 $ 2.48 Special items Net costs for significant litigation 0.19 0.51 (Increase) decrease in value of Solventum ownership 0.13 (1.05) Manufactured PFAS products 0.04 Loss on business divestitures 0.30 Transformation costs 0.02 Adjusted EPS from continuing operations (adjusted EPS) $ 2.19 $ 1.98 Memo GAAP operating income margin 22.2 % 20.9 % Adjusted operating income margin 24.7 % 23.0 % GAAP EPS of $1.55 and operating margin of 22.2%.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Corporate and Other operating income (loss) includes Corporate special items include, for the periods presented net costs for significant litigation impacting operating income (loss) associated with PFAS-related other environmental and Combat Arms Earplugs matters, loss on business divestitures, divestiture costs (related to separating and divesting substantially an entire business segment of 3M following public announcement of its intended divestiture) that were not eligible to be part of discontinued operations, and transformation program restructuring and related charges.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Because 3M provides certain information with respect to business segments, it is noteworthy that special items impacting operating income (loss) are reflected in Corporate and Other, except as described with respect to net costs for significant litigation and manufactured PFAS products items in the Description of special items section.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

These include special items such as net costs for significant litigation projected divestiture gains (losses) divestiture costs divestiture-related restructuring changes in value of Solventum ownership transformation costs and net sales and estimates of income and associated activity of exited manufactured PFAS products all of which are subject to limitations in predictability of timing, ultimate outcome and numerous conditions outside of 3M s control.

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

The cash tax impact for the portion of payments of costs for significant litigation under the 2023 and 2025 settlement proposed settlement agreements relative to Combat Arms Earplugs and relative to public water suppliers and the state of New Jersey regarding PFAS is based on the timing amount of the actual cash tax deduction (which differs from the timing of the pre-tax cash settlement payments).

SEC original ↗3M — Earnings release (8-K exhibit)EX-99Oct 21, 2025

Documents