3M Q1 sales grow 1.3% to $6B, adjusted EPS rises 14%
3M reported Q1 GAAP sales of $6.0 billion, up 1.3% year-on-year, with a 23.2% operating margin (up 230 bps) and GAAP EPS of $1.23. Adjusted sales grew 3.9% to $6.0 billion with 1.2% organic growth, a 23.8% adjusted margin and adjusted EPS of $2.14 (+14%).
1. Q1 Financial Results
3M delivered Q1 GAAP sales of $6.0 billion, a 1.3% increase from last year, with a 23.2% operating margin, up 230 basis points, and GAAP EPS of $1.23. On an adjusted basis, sales rose 3.9% to $6.0 billion with 1.2% organic growth, a 23.8% operating margin and adjusted EPS of $2.14, up 14%.
2. Cash Flow and Shareholder Returns
Operating cash flow reached $0.6 billion in the quarter and adjusted free cash flow was $0.5 billion. The company returned $2.4 billion to shareholders through dividends and share repurchases.
3. Reiterated Full-Year Guidance
3M reaffirmed its 2026 targets of roughly 4% adjusted total sales growth with 3% organic growth, 70–80 bps of operating margin expansion, adjusted EPS of $8.50–$8.70 and adjusted operating cash flow of $5.6–$5.8 billion, aiming for over 100% free cash flow conversion.