Skip to content
AnalystLens

3M CO 8-K Report, Financial Results (Apr 21, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 21, 2026
Period End
April 21, 2026
Security
MMM
In the record · 2016–202610-K1110-Q338-K187

MMM filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 187 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’16Mar ’16
  2. Material agreement8-K · Nov ’20Nov ’20
  3. Leadership change8-K · Feb ’23Feb ’23
  4. Leadership change8-K · Feb ’25Feb ’25

01—Abstract

Summary

Summary of the 8-K filed April 21, 2026. Cited figures are marked; the original filing is the authoritative source.

3M reported first-quarter 2026 results with GAAP net sales of $6.03 billiona, up 1.3% year-over-year, and adjusted net sales of $6.00 billion, up 3.9%.

Organic growth was weak on a GAAP basis (down 1.4%) but positive on an adjusted basis (up 1.2%), after excluding a 2.6-point drag from manufactured PFAS products that 3M exited by the end of 2025. Currency translation contributed about 2.8 points of growth. GAAP EPS fell 40% to $1.23b from $2.04, driven mainly by a $0.67 per-share charge tied to the change in value of the Solventum stake, PFAS-related costs, and transformation costs.

Adjusted EPS rose 14% to $2.14c from $1.88, and adjusted operating margin expanded 30 basis points to 23.8%. Cash generation was softer than the earnings profile suggests. Operating cash flow was $574 million, compared with an outflow of $79 million a year earlier, and adjusted free cash flow was $541 million.

Shareholder returns totaled $2.4 billiond, including dividends and buybacks, and cash fell from $5.2 billion to $3.7 billion during the quarter. Total equity dropped to $3.3 billion from $4.7 billion, largely reflecting the Solventum-related write-down and the capital return program. Management reiterated full-year 2026 guidance: adjusted sales growth of about 4% (about 3% organic), adjusted EPS of $8.50 to $8.70, adjusted operating margin expansion of 70 to 80 basis points, and adjusted operating cash flow of $5.6 to $5.8 billion.

For investors, the key questions are whether the adjusted organic growth recovery holds in the Americas, where adjusted organic sales were roughly flat, and whether PFAS and litigation liabilities, which remain significant, continue to weigh on cash flow and equity. Because the filing is furnished under Item 2.02 and the guidance was reiterated rather than raised, the quarter reads as a steady start to the year rather than a clear acceleration.

02—Key points

Key Highlights

  1. GAAP net sales of $6.03B (+1.3% YoY); adjusted net sales of $6.00B (+3.9% YoY), with adjusted organic growth of 1.2%
  2. GAAP EPS of $1.23 (down 40% YoY) was hit by a $0.67 Solventum ownership value decline and PFAS and transformation costs; adjusted EPS of $2.14 rose 14% YoY
  3. Adjusted operating margin of 23.8%, up 30 bps YoY; GAAP operating margin of 23.2%, up 230 bps
  4. Safety and Industrial led growth with 3.2% organic sales growth and 6.8% total sales growth, while Americas adjusted organic sales were roughly flat and China was strong at +4.4% organic
  5. Operating cash flow of $574M and adjusted free cash flow of $541M, versus negative operating cash flow a year earlier, though well below shareholder returns of $2.4B
  6. Cash fell to $3.7B from $5.2B and total equity fell to $3.3B from $4.7B during the quarter
  7. Full-year 2026 guidance reiterated: adjusted EPS of $8.50 to $8.70, adjusted sales growth of ~4%, and adjusted operating cash flow of $5.6 to $5.8B

03—Questions

Frequently Asked Questions

  1. Did 3M maintain its full-year 2026 outlook?

    Yes. 3M reiterated, rather than raised, its 2026 guidance: adjusted EPS of $8.50 to $8.70, adjusted total sales growth of about 4% (about 3% organic), adjusted operating margin expansion of 70 to 80 basis points, and adjusted operating cash flow of $5.6 to $5.8 billion, with adjusted free cash flow conversion above 100%.

  2. Why did GAAP EPS fall 40% while adjusted EPS rose 14%?

    The gap is mainly due to special items. The largest was a $0.67 per-share charge from the change in value of 3M's retained Solventum stake, which flows through other expense. Other items included $0.18 per share for manufactured PFAS products and $0.09 per share for transformation costs, partly offset by a $0.04 benefit from significant litigation. Adjusted EPS strips these out and shows $2.14.

  3. How much of the sales growth came from underlying business versus currency?

    On a GAAP basis, organic sales declined 1.4%, and currency translation added 2.8 points, which produced the 1.3% total increase. On an adjusted basis, which excludes the manufactured PFAS products drag, organic growth was 1.2%. Currency translation contributed the remaining growth of about 2.8 points, so the underlying business is growing modestly and FX is doing much of the lifting.

  4. Is 3M generating enough cash to cover its shareholder returns?

    Not in this quarter. 3M generated $574M of operating cash flow and $541M of adjusted free cash flow, but returned $2.4B through dividends and buybacks. The gap was funded from the balance sheet, reducing cash from $5.2B to $3.7B. Management's full-year forecast of more than $4.6B in adjusted free cash flow implies stronger generation in later quarters.

  5. What are the main risks highlighted in the filing?

    The forward-looking statements list several risks, with PFAS liabilities and the PWS settlement at the top, along with Aearo and Combat Arms Earplugs litigation, tariffs and trade conditions, currency fluctuations, and the Solventum spin-off matters. Operational risks include the phased global ERP implementation and productivity execution. Equity value is also exposed to Solventum share price movements, as the quarter's $0.67 per-share charge shows.

04—Continue

← View all 8-K filings