Categories Analysis, Earnings, Industrials

3M Company (MMM) Q3 2023 Earnings Summary

3M Company (NYSE: MMM) reported third quarter 2023 earnings results today.

Sales decreased 3.6% year-over-year to $8.3 billion. Organic sales fell 3.7%.

Adjusted sales were $8 billion, down 3% year-over-year while adjusted organic sales dropped 3.1%.

Net loss attributable to 3M was $2 billion, or $3.74 per share, compared to net income of $3.8 billion, or $6.77 per share, last year. Adjusted EPS was $2.68.

For the full year of 2023, the company expects total sales to decline by approx. 5%. Adjusted EPS is expected to be $8.95-9.15.

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