3M (MMM.US) gains over 4.00% following the release of its quarterly results. The international conglomerate engaged in the production and sale of plastics, abrasives, electronics, and pharmaceuticals reported sales of $6.1 billion, a 1.0% year-over-year increase.
- Adjusted sales: $6.1 billion (up 1.5% year-over-year)
- GAAP EPS: $2.48 (up 154% year-over-year)
- Adjusted EPS: $1.98 (up 18% year-over-year)
- Adjusted operating margin: 23.0% (up 1.4 percentage points year-over-year)
- Free cash flow: $1.5 billion (adjusted)
Sales breakdown by sector:
- Safety and Industry: This segment reported sales of $2.77 billion, a slight increase compared to $2.75 billion in Q3 2023, with organic growth of 0.9%.
- Transportation and Electronics: Sales in this segment reached $1.91 billion ($1.88 billion a year ago). Organic growth was stronger at 2.0%, driven by single-digit growth in electronics and advanced materials, although automotive and aerospace fell by mid-single digits.
- Consumer: Sales in the consumer segment slightly declined to $1.30 billion compared to $1.32 billion in Q3 2023.
Operationally, 3M continued to focus on improving efficiency. The on-time-in-full (OTIF) delivery rate improved by 5 percentage points year-to-date. The company also increased its focus on accelerating new product launches (up 10%).
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appForecasts
3M CEO William Brown highlighted the company's strong operational performance and reaffirmed confidence in a solid year-end finish. The company updated its full-year 2024 EPS forecasts to a range of $7.20 to $7.30, slightly improving from previous estimates ($7.00 - $7.30). The company expects flat to 2% adjusted sales growth.
Chart (D1 interval)
The company's stock is up 4.00% to $140 per share.

Source: xStation 5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.