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3M MMM Q1 2024 earnings

Reported April 30, 2024 · Before market open

Revenue$8.0BBeat by $374.6M
EPS$2.39Beat by $0.29
Revenue estimate$7.6B
EPS estimate$2.10

Next report

Oct 20, 2026 (In 2 weeks)
Revenue estimate$6.6B
EPS estimate$2.39

Financials

Q1 2024

Income statement

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Revenue$6.0B-0.6%
Gross profit$2.5B+9.5%
Operating income$1.1B-7.4%
Net income$928.0M-4.9%
EPS (diluted)$1.67-5.1%

Balance sheet

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Cash & equivalents$10.9B+185%
Total debt$21.3B+54.2%
Total equity$4.9B-68.2%
Total assets$55.2B+17.8%

Cash flow

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Operating cash flow$767.0M-39.8%
CapEx$375.0M-21.1%
Free cash flow$392.0M-51.0%

Valuation & ratios

Valuation

as of 03/31/24
See full
Market cap$49.22B+1.1%
Enterprise value$59.64B+1.6%
P/S2×-0.1×

Profitability

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Gross margin40.1%—
Operating margin-46%—
Net margin-28.7%-52.0pp
FCF margin19%+1.6pp

Returns & leverage

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Return on equity-69.9%-106pp
Debt / equity4.4×+3.5×
Current ratio1.6×+0.2×

Segments

By product

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Personal Safety$857.0M-1.3%
Electronics$725.0M+7.9%
Commercial Branding and Transportation$610.0M—
Industrial Adhesives and Tapes$518.0M+0.4%
Automotive and Aerospace$506.0M+9.5%

By segment

See full
Safety and Industrial$2.7B-1.7%
Transportation and Electronics$2.1B+2.6%
Consumer$1.1B-4.4%

FAQ

When did 3M report Q1 2024 earnings?
3M (MMM) reported Q1 2024 earnings on April 30, 2024 before market open.
What were 3M's Q1 2024 revenue and EPS?
3M reported revenue of $8.0B and eps of $2.39 for Q1 2024.
Did 3M beat estimates in Q1 2024?
Revenue beat the consensus estimate of $7.6B by $374.6M. EPS beat the consensus estimate of $2.10 by $0.29.
Where can I find 3M's Q1 2024 SEC filings?
You can read the 8-K earnings release (0000066740-24-000051) and the 10-Q periodic report (0000066740-24-000053) directly on SEC EDGAR. The filing index links above go to sec.gov.