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 

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