3M Reports First-Quarter 2025 Results

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April 28, 2025

3M has recently reported first-quarter 2025 results.

“We had strong results in the first quarter with positive organic sales growth, margins ahead of expectations and double-digit EPS growth,” said William Brown, 3M Chairman and Chief Executive Officer. “In this dynamic environment we remain focused on improving the fundamentals in the business, building a new performance culture and advancing our strategic priorities while leveraging our extensive global network and significant U.S. footprint. I want to thank the 3M team for their hard work, dedication, and relentless focus on improving every day.”

First-quarter highlights:

 Q1 2025Q1 2024
GAAP EPS from continuing operations (GAAP EPS)$          2.04$          1.27
Special items:  
Net costs for significant litigation0.410.44
(Increase) decrease in value of Solventum ownership(0.63)—
Manufactured PFAS products0.06—
Adjusted EPS from continuing operations (adjusted EPS)$          1.88$          1.71
Memo:  
GAAP operating income margin20.9 %19.1 %
Adjusted operating income margin23.5 %21.3 %
  • GAAP EPS of $2.04 and operating margin of 20.9%.
  • Adjusted EPS of $1.88, up 10% year-on-year.
  • Adjusted operating income margin of 23.5%, an increase of 2.2 percentage points year-on-year.
 GAAPAdjusted (non-GAAP)
Net sales (billions)$6.0$5.8
Sales change  
Total sales(1.0) %0.8 %
Components of sales change:  
Organic sales(0.3)1.5
Acquisitions/divestitures1.01.0
Translation(1.7)(1.7)

Adjusted sales excludes manufactured PFAS products.

  • Sales of $6.0 billion, down 1.0% year-on-year with organic sales down 0.3% year-on-year.
  • Adjusted sales of $5.8 billion, up 0.8% year-on-year with adjusted organic sales up 1.5% year-on-year.
  • 3M returned $1.7 billion to shareholders via dividends and share repurchases.
  • Cash from operations of $(0.1) billion.
  • Adjusted free cash flow of $0.5 billion.

This document includes reference to certain non-GAAP measures. See the “Supplemental Financial Information Non-GAAP Measures” section for applicable information.

Update on 2025 guidance

  • Adjusted EPS1 in the range of $7.60 to $7.90, and additional tariff sensitivity of $(0.20) to $(0.40) per share.

1As 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:

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

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