3M Reports Second-Quarter 2026 Results; Increases Full-Year Guidance
August 5, 2026
3M has recently reported second-quarter results.
“We delivered a strong second quarter, exceeding expectations with mid-single-digit sales growth, robust operating margins of about 25%, and double-digit EPS growth, reflecting the progress we’re making on our strategic priorities and building a higher-performing company,” said William Brown, 3M Chairman and CEO. “As a result of our strong first-half performance and continued momentum, we are increasing our full-year guidance and remain confident in our ability to create long-term value for shareholders. I want to thank the 3M team for their disciplined execution, dedication, and relentless focus on delivering innovative solutions for our customers.”
Second-quarter highlights:
| Q2 2026 | Q2 2025 | |
| GAAP EPS | $ 1.78 | $ 1.34 |
| Special items: | ||
| Loss on business divestitures | 0.61 | — |
| (Increase) decrease in value of Solventum ownership | (0.60) | 0.01 |
| Net costs for significant litigation and PFAS exit | 0.44 | 0.79 |
| Transformation costs | 0.15 | — |
| Business acquisition-related costs | 0.02 | — |
| Manufactured PFAS products | — | 0.02 |
| Adjusted EPS | $ 2.40 | $ 2.16 |
| Memo: | ||
| GAAP operating income margin | 15.1 % | 18.0 % |
| Adjusted operating income margin | 24.9 % | 24.5 % |
- GAAP EPS of $1.78 and operating margin of 15.1%.
- Adjusted EPS of $2.40, up 11% year-on-year.
- Adjusted operating income margin of 24.9%, an increase of 40 basis points year-on-year.
| GAAP | Adjusted (non-GAAP) | |||
| Net sales (billions) | $6.5 | $6.5 | ||
| Sales change | ||||
| Total sales | 2.4 % | 5.5 % | ||
| Components of sales change: | ||||
| Organic sales | 2.3 | 5.4 | ||
| Acquisitions/divestitures | (0.6) | (0.7) | ||
| Translation | 0.7 | 0.8 | ||
| Adjusted sales excludes manufactured PFAS products. | ||||
- Sales of $6.5 billion, up 2.4% year-on-year with organic sales up 2.3% year-on-year.
- Adjusted sales of $6.5 billion, up 5.5% year-on-year with adjusted organic sales up 5.4% year-on-year.
- 3M returned $1.4 billion to shareholders via dividends and share repurchases.
- Cash from operations of $1.0 billion.
- Adjusted free cash flow of $1.3 billion.
Strategic and operational highlights
The following are recently announced highlights:
- 3M and Microsoft announced a strategic partnership to advance AI data center infrastructure and enterprise transformation. Microsoft becomes the first announced hyperscale cloud provider to deploy 3M Expanded Beam Optics (EBO) technology. Microsoft is a member of the EBO Multi-Source Agreement (MSA) which 3M helped establish to support standardization and broader industry adoption of EBO technology.
- 3M and Airbus signed a long-term agreement to deliver advanced insulation technologies for the A220, improving cabin comfort while supporting aircraft performance and efficiency.
- 3M has entered a multi‑year global partnership as the Cadillac Formula 1® Team’s Official Material Science Partner, leveraging advanced materials, manufacturing and testing to accelerate car development, enhance performance and streamline operations in one of the most demanding racing environments.
- 3M launched Ask 3M, an AI digital assistant powered by AWS that gives customers fast, self-service access to technical expertise, enabling more efficient evaluation of materials, product comparisons, and resolution of application challenges.
- As a part of NASA’s Artemis II mission, the crew of the Orion capsule used 3M™ PELTOR™ ComTac™ VI Tactical Headsets for communication. These headsets are designed to enable communication in extreme environments and are one way 3M is supporting next-generation space exploration.
Updated full-year 2026 guidance1
3M updated its full-year 2026 guidance given the company’s performance in the first half of the year.
- Adjusted total sales growth2 of >4.5 percent, reflecting adjusted organic sales growth2 of >3.5 percent.
- Adjusted operating income margin expansion2 of 70 bps to 80 bps.
- Adjusted EPS2 in the range of $8.80 to $8.95.
- Adjusted operating cash flow2 of $5.8 to $6.0 billion, contributing to >100 percent adjusted free cash flow conversion2.
1Guidance does not yet reflect the acquisition of Madison Fire & Rescue, which closed on July 1, 2026.
2As 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 conducted an investor teleconference at 9 a.m. ET (8 a.m. CT), August 5, 2026. Investors can access this conference via the following:
- Webcast replay at https://investors.3m.com/financials/quarterly-earnings
