3M (MMM)
NYSE:MMM
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Earnings Data
Report Date
Jul 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.23Last Year’s EPS
2.16Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed solid operational execution and financial discipline with multi-dimensional improvements (EPS +14%, margin expansion, stronger liquidity, orders +10% and backlog growth) and strategic progress (new products, data center/EBO capacity, safety M&A and footprint simplification). Notwithstanding, there are meaningful pockets of demand weakness (consumer electronics, U.S. consumer, automotive in China), tariff and oil-cost headwinds (~$145M and ~$125M respectively), and a retained EPS contingency of $0.05–$0.15 reflecting macro uncertainty. On balance, the positive operational momentum, strong cash returns to shareholders and reiterated guidance outweigh the noted headwinds, though the outlook remains dependent on backlog conversion and commodity/geo-political developments.Company Guidance
Earnings per Share Growth
Adjusted EPS of $2.14 in Q1, up ~14% year-over-year (improvement of $0.26), driven by volume, productivity and lower share count.
Operating Margin Expansion
Adjusted operating margin rose 30 basis points to 23.8% in Q1, with business groups collectively expanding ~60 basis points year-over-year before a 30 bps corporate headwind.
Free Cash Flow Strength and Guidance
Adjusted free cash flow of ~$540 million in Q1 (up ~10% year-over-year) and company reiterates full-year free cash flow > $4.5 billion with >100% conversion guidance.
Aggressive Shareholder Returns
Returned $2.4 billion to shareholders in Q1 (≈$2.0 billion share repurchases and ~$400 million dividends) and has returned over $7 billion of a $10 billion commitment.
Order and Backlog Momentum
Orders grew slightly >10% in Q1, with backlog up double digits year-over-year and sequentially (auto backlog cited as up ~20% YoY and ~35% sequential), supporting confidence in acceleration into Q2.
New Product Introductions Accelerating
Launched 84 new products in Q1 (up 35% YoY) and on pace to launch ~350 products in 2026, ahead of prior multi-year Investor Day cadence (1,000 through 2027).
Operational Improvements and Productivity
OTIF service levels >90%; inventory reduced by ~3 days; delivery lead time down ~25%; OEE improved >100 basis points YoY; cost of poor quality improved ~100 basis points YoY.
Strategic Portfolio Actions and M&A
Closed sale of precision grinding business (reduced footprint by 7 factories), announced further site consolidations (projected sites <100), and announced acquisition/JV of Madison Fire & Rescue to create an ~$800M high-single-digit-growth fire & safety business (3M 51%).
Data Center / EBO Opportunity
Data center and power business ~ $600M (≈$100M in data center optics + ~$500M in power), received hyperscaler validation and a significant order for Expanded Beam Optics (EBO); investing to more than double capacity to support AI demand in a >$1B addressable market.
Full-Year Guidance Reiterated
Maintained 2026 guidance: organic sales growth ~3%, EPS $8.50–$8.70, and free cash flow conversion >100%, with expectation of margin expansion (~100 bps for business groups) as tariffs are lapped and productivity continues.
MMM Earnings History
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 |
|---|---|---|---|
Apr 21, 2026 | $151.40 | $148.47 | -1.94% |
Jan 20, 2026 | $167.05 | $155.42 | -6.96% |
Oct 21, 2025 | $153.43 | $165.19 | +7.66% |
Jul 18, 2025 | $156.93 | $151.19 | -3.65% |
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.
FAQ
When does 3M (MMM) report earnings?
3M (MMM) is schdueled to report earning on Jul 28, 2026, Before Open (Confirmed).
What is 3M (MMM) earnings time?
3M (MMM) earnings time is at Jul 28, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MMM EPS forecast?
MMM EPS forecast for the fiscal quarter 2026 (Q2) is 2.23.
