3M Raises 2026 EPS Guidance to $9.10-$9.15 After Q3 Beat

ST. PAUL, Minn., Oct. 20, 2026. 3M (NYSE: MMM) reported third-quarter 2026 GAAP earnings per share of $2.63, a 70 percent increase from the prior year, and raised its full-year adjusted EPS guidance to a range of $9.10 to $9.15. The company, led by Chairman and CEO William Brown, stated that the update incorporates the acquisition of Madison Fire & Rescue and a change in non-GAAP reporting treatment for intangible asset amortization.

GAAP net sales for the quarter totaled $6.6 billion, up 1.0 percent year-on-year. Adjusted sales also reached $6.6 billion, reflecting 4.2 percent year-on-year growth, with adjusted organic sales increasing by 3.3 percent. The adjusted operating income margin expanded to 26.2 percent, up 110 basis points from the previous year. The new non-GAAP basis treats amortization of intangible assets as a special item, which increased the base third-quarter adjusted operating income margin by approximately 40 basis points and adjusted EPS by approximately $0.04 compared to the old basis.

Cash from operations was $0.5 billion, while adjusted free cash flow reached $1.2 billion. During the quarter, 3M returned $0.6 billion to shareholders through dividends and share repurchases. The GAAP operating income margin stood at 23.7 percent, up from 22.2 percent in the same period last year.

The company entered into an expanded strategic commercial relationship with Amazon to deploy optical connectivity and data center products. As part of this agreement, 3M issued a warrant to Amazon for up to 3.2 million shares of common stock, contingent on achieving $6 billion in cumulative sales of these products over the next seven years and meeting other event-based milestones. Additionally, 3M is investing to acquire approximately 4.7 percent of Genius Electronic Optical Co., Ltd. (GSEO) to collaborate on Expanded Beam Optics solutions.

Other operational highlights include the introduction of Cooling Film technology for fleet and rail applications and a joint innovation laboratory with BOE for next-generation display technology. The company also secured government awards for PELTOR hearing protection and Scott SCBAs for U.S. military services and the National Institutes of Health.

For the full year 2026, 3M now guides for adjusted total sales growth of greater than 4.5 percent, with adjusted organic sales growth exceeding 3.5 percent. Adjusted operating cash flow is expected to be approximately $5.9 billion, and adjusted free cash flow is projected at approximately $4.8 billion.