3M adjusted earnings rise 12% as company raises annual outlook

Key Facts

3M reported a 12% year-on-year increase in third-quarter adjusted earnings per share in results released on October 20, 2026, and raised its annual outlook as margins improved. Adjusted earnings per share were $2.50, according to the company's filing with the U.S. Securities and Exchange Commission, beating analyst forecasts of $2.39 per share reported by Investing.com. MMM shares closed at $171.37 on October 20, 2026, rising 5.8% by the end of trading following the earnings release and an expanded partnership with Amazon.

The adjusted operating margin reached 26.2% in the third quarter, an increase of 110 basis points which Reuters attributed to cost controls and price increases. The company also reported adjusted free cash flow of $1.2 billion, while updating its accounting treatment to exclude intangible asset amortization from adjusted results. These results followed a October 19, 2026, agreement granting an Amazon subsidiary options to purchase up to 3.16 million 3M shares at an exercise price of $164.89, with 85% of vesting tied to Amazon making $6 billion in cumulative payments for optical interconnect products.

For 2026, 3M raised its adjusted earnings per share forecast range to $9.10–9.15 from its previous guidance of $8.80–8.95, according to the earnings presentation covered by Investing.com. The company expects organic growth to exceed 3.5% for the year, with its investment in GSEO scheduled to close in the fourth quarter of 2026.