The earnings call highlighted strong financial performance with impressive EPS growth, margin improvements, and successful new product launches. However, challenges in the auto and consumer segments, along with ongoing PFAS litigation and tariff impacts, pose significant risks. The overall sentiment reflects a well-executed strategy amid a challenging macroeconomic environment.

Company Guidance -

Q3 2025

During the 3M Second Quarter Earnings Conference Call, the company reported strong performance with an adjusted earnings per share of $2.16, marking a 12% increase over the previous year and surpassing expectations. Organic sales growth reached 1.5%, with all three business groups experiencing positive growth for the third consecutive quarter. Operating margins improved by 290 basis points compared to the previous year, driven by productivity and cost control initiatives. The company also achieved solid free cash flow of $1.3 billion, representing a 110% conversion rate. In the second quarter, 3M launched 64 new products, a 70% increase from the previous year, contributing to a 9% rise in five-year new product sales for the first half. The company's on-time and full metric reached 89.6%, its highest in nearly six years, and the cost per quality metric decreased by 30 basis points sequentially and 90 basis points year-over-year. For 2025, 3M has raised its earnings guidance to a range of $7.75 to $8.00, inclusive of anticipated tariff impacts, and expects approximately 2% organic growth for the year.

Strong Earnings Performance

Adjusted earnings per share (EPS) of $2.16, up 12% year-over-year, exceeding expectations.

Organic Sales Growth

Reported 1.5% organic sales growth, with all three business groups showing positive growth for three consecutive quarters.

Operating Margin Improvement

Operating margins increased by 290 basis points year-on-year due to productivity gains and cost controls.

New Product Innovation

Launched 64 new products in Q2, up 70% from the previous year, with new product sales up 9% in the first half.

Commercial Excellence Initiatives

Implemented successful commercial excellence initiatives, leading to higher order rates and improved pricing discipline.

Operational Excellence Achievements

On-time and full metric reached 89.6%, the highest in nearly six years, with improvements in equipment effectiveness and quality costs.

Capital Deployment and Shareholder Returns

Returned $3 billion to shareholders through dividends and share buybacks, with continued capital deployment flexibility.

Geographical Growth Performance

China showed mid-single-digit growth, with strong performance in industrial adhesives, films, and electronics bonding solutions.

3M (MMM) Earnings, Revenues Date & History

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MMM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	2.06 / -	1.98	―	―	―
Jul 18, 2025	2025 (Q2)	2.01 / 2.16	1.93	11.92% (+0.23)
Apr 22, 2025	2025 (Q1)	1.78 / 1.88	2.39	-21.34% (-0.51)
Jan 21, 2025	2024 (Q4)	1.66 / 1.68	2.023	-16.96% (-0.34)
Oct 22, 2024	2024 (Q3)	1.90 / 1.98	2.241	-11.65% (-0.26)
Jul 26, 2024	2024 (Q2)	1.68 / 1.93	1.814	6.39% (+0.12)
Apr 30, 2024	2024 (Q1)	2.10 / 2.39	1.647	45.11% (+0.74)
Jan 23, 2024	2023 (Q4)	1.93 / 2.02	1.906	6.14% (+0.12)
Oct 24, 2023	2023 (Q3)	1.96 / 2.24	2.249	-0.36% (>-0.01)
Jul 25, 2023	2023 (Q2)	1.45 / 1.81	2.073	-12.49% (-0.26)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MMM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 18, 2025	$159.04	$153.23	-3.65%
Apr 22, 2025	$125.48	$135.66	+8.11%
Jan 21, 2025	$139.65	$145.46	+4.16%
Oct 22, 2024	$132.82	$129.75	-2.31%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.