3M Reports Third-Quarter Results

3M Reports Third-Quarter Results

• Sales of $6.3 billion, up 0.4% YoY
• Adjusted sales of $6.1 billion with organic growth up 1.0% YoY
• GAAP EPS from continuing operations of $2.48, up 154% YoY
• Adjusted EPS from continuing operations of $1.98, up 18% YoY
• Operating cash flow of $(1.8) billion with adjusted free cash flow of $1.5 billion
• Updating full-year 2024 adjusted EPS from continuing operations to $7.20 to $7.30 from $7.00 to $7.30

 3M has reported its third-quarter results.
“The 3M team delivered another quarter of strong operational execution, resulting in a double-digit increase in adjusted earnings along with solid adjusted free cash flow generation,” said William Brown, 3M Chief Executive Officer. “Our ongoing execution positions us well to deliver a strong finish to the year. I am confident that our work on advancing our three priorities – organic growth, operational excellence, and capital deployment – will deliver long-term value creation for our shareholders.”

Third-Quarter Highlights:

• Sales of $6.3 billion, up 0.4% year-on-year, with organic sales down 0.1% year-on-year.
• Adjusted sales of $6.1 billion, up 1.5% year-on-year with adjusted organic sales up 1.0% year-on-year.
• 3M returned $1.1 billion to shareholders via dividends and share repurchases.
• Cash from operations of $(1.8) billion, driven by $3.6 billion net after tax payments for costs of significant litigation, primarily Public Water Systems and Combat Arms Earplugs.
• Adjusted free cash flow of $1.5 billion.

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