3M 8-K
PositiveEarningsGuidance raised
Raised FY2026 adjusted EPS guidance on strong first-half performance; Safety and Industrial led segment sales growth.
Filed 2026-07-21 06:34 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results and increased FY2026 guidance. Sales rose 2.4% Y/Y, while adjusted sales grew 5.5%; adjusted EPS increased 11%. 3M raised FY2026 adjusted EPS guidance to $8.80–$8.95 from $8.50–$8.70, citing strong first-half performance and continued momentum.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Net sales, GAAP | $6.50B | $6.34B | 2.4% |
| Net sales, adjusted (non-GAAP) | $6.50B | $6.16B | 5.5% |
| Operating income, GAAP | $984M | $1.14B | (13.7)% |
| Operating income, adjusted (non-GAAP) | $1.62B | $1.51B | 7.2% |
| Net income attributable to 3M | $933M | $723M | 29% |
| Net income attributable to 3M, adjusted (non-GAAP) | $1.26B | $1.17B | 7.3% |
| Diluted EPS | $1.78 | $1.34 | 33% |
| Diluted EPS, adjusted (non-GAAP) | $2.40 | $2.16 | 11% |
| Operating cash flow | $986M | $(954)M | n/m |
| Adjusted free cash flow (non-GAAP) | $1.35B | $1.28B | 5.0% |
- GAAP operating margin was 15.1%, down 290 bp; adjusted operating margin was 24.9%, up 40 bp. Safety and Industrial and Transportation and Electronics sales grew 8.2% and 6.2%, respectively; Consumer sales declined 1.8%.
- Dividends and share repurchases returned $1.4B to shareholders. Shares outstanding fell by 14.6M from 12/31/2025 to 6/30/2026; cash was $2.96B at quarter-end, and total debt was $12.6B.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Adjusted total sales growth; adjusted organic sales growth | FY2026 | >4.5%; >3.5% | — | — |
| Adjusted operating income margin expansion | FY2026 | 70–80 bp | — | — |
| Adjusted EPS (non-GAAP) | FY2026 | $8.80–$8.95 | $8.50–$8.70 | raised |
| Operating cash flow (GAAP); adjusted operating cash flow (non-GAAP) | FY2026 | $5.8B–$6.0B; $5.8B–$6.0B | — | — |
| Purchases of property, plant and equipment | FY2026 | ≈$1.1B | — | — |
| Adjusted free cash flow (non-GAAP) | FY2026 | $4.7B–$4.9B | — | — |
| Net income attributable to 3M (GAAP); adjusted net income attributable to 3M (non-GAAP) | FY2026 | $4.6B–$4.7B; $4.6B–$4.7B | — | — |
| Adjusted free cash flow conversion (non-GAAP) | FY2026 | >100% | — | — |
Guidance does not yet reflect the Madison Fire & Rescue acquisition, which closed 7/1/2026.
Investor Takeaways
- Track FY2026 adjusted EPS against the raised $8.80–$8.95 range and adjusted free cash flow conversion against the >100% target.
- Future guidance updates will show how the Madison Fire & Rescue acquisition affects the outlook, as it is excluded from current guidance.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3