Key facts
- 3M raised its full-year profit forecast, citing cost controls, price increases, and strength in its safety & industrial business.
- The company's new adjusted earnings per share forecast is between $8.80 and $8.95.
- Fourth-quarter GAAP sales rose 2.1% year-on-year to $6.1 billion.
- Full-year GAAP sales increased 1.5% year-on-year to $24.9 billion.
- Full-year adjusted EPS grew 10% year-on-year to $8.06.
3M has raised its full-year profit forecast, citing successful cost-control measures, strategic price increases, and sustained resilience within its safety and industrial business segment. The company now anticipates adjusted earnings per share to fall between $8.80 and $8.95, an upward revision from its earlier projection of $8.50 to $8.70. This adjustment reflects strong first-half performance and ongoing momentum.
In its fourth-quarter results, 3M reported GAAP sales of $6.1 billion, marking a 2.1% increase year-on-year, with adjusted operating margin rising to 21.1%. For the full year, GAAP sales reached $24.9 billion, up 1.5% from the previous year, and adjusted EPS grew 10% year-on-year to $8.06. The company's efforts under CEO William Brown to cushion margins from weak demand and inflation through cost cuts, price hikes, and new product introductions have been effective.
Earlier in July, 3M had also raised its full-year profit forecast, expecting adjusted earnings between $7.75 and $8 per share, up from $7.60 to $7.90 previously. This guidance update incorporated the impact of tariffs and came amidst easing U.S.-China trade tensions following a June trade deal.