Adjusted sales of $6.1 billion with organic growth up 1.0% YoY
GAAP EPS from continuing operations of $2.48, up 154% YoY
Adjusted EPS from continuing operations of $1.98, up 18% YoY
Operating cash flow of $(1.8) billion with adjusted free cash flow of $1.5 billion
Updating full-year 2024 adjusted EPS from continuing operations to $7.20 to $7.30 from $7.00 to $7.30
ST. PAUL, Minn., Oct. 22, 2024 /PRNewswire/ -- 3M (NYSE:MMM) today reported third-quarter results.
"The 3M team delivered another quarter of strong operational execution, resulting in a double-digit increase in adjusted earnings along with solid adjusted free cash flow generation," said William Brown, 3M Chief Executive Officer. "Our ongoing execution positions us well to deliver a strong finish to the year. I am confident that our work on advancing our three priorities, organic growth, operational excellence, and capital deployment, will deliver long-term value creation for our shareholders."
Third-Quarter Highlights:
Q3 2024
Q3 2023
GAAP EPS from continuing operations (GAAP EPS)
$ 2.48
$ (4.56)
Special items:
Net costs for significant litigation
0.51
6.13
(Increase) decrease in value of Solventum ownership
(1.05)
—
Other special items, net
0.04
0.11
Adjusted EPS from continuing operations (Adjusted EPS)
$ 1.98
$ 1.68
Memo:
GAAP operating income margin
20.9 %
(49.4) %
Adjusted operating income margin
