3M Reports First-Quarter 2025 Results

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 2025	Q1 2024
GAAP EPS from continuing operations (GAAP EPS)	$          2.04	$          1.27
Special items:
Net costs for significant litigation	0.41	0.44
(Increase) decrease in value of Solventum ownership	(0.63)	—
Manufactured PFAS products	0.06	—
Adjusted EPS from continuing operations (adjusted EPS)	$          1.88	$          1.71
Memo:
GAAP operating income margin	20.9 %	19.1 %
Adjusted operating income margin	23.5 %	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.

	GAAP	Adjusted (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/divestitures	1.0	1.0
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:

• 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

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