3M Raises 2024 Adjusted EPS Outlook to $7.20-$7.30; Q3 Adjusted EPS Up 18%
3M reported third-quarter 2024 results on October 22, 2024, with sales of $6.3 billion, up 0.4% year-on-year, and adjusted EPS of $1.98, up 18%. GAAP EPS from continuing operations was $2.48, compared with a loss of $4.56 a year earlier, which was driven by litigation costs. The company raised its full-year 2024 adjusted EPS outlook to $7.20 to $7.30 from $7.00 to $7.30, which is positive for shareholders, though operating cash flow was negative $1.8 billion after $3.6 billion in net after-tax litigation payments.
Key points
- Q3 2024 sales of $6.3 billion, up 0.4% year-on-year; organic sales fell 0.1%
- GAAP EPS of $2.48 vs. a loss of $4.56 in Q3 2023; adjusted EPS of $1.98, up 18%
- Full-year 2024 adjusted EPS outlook raised to $7.20 to $7.30 from $7.00 to $7.30; adjusted organic sales growth forecast about 1%
- Operating cash flow of $(1.8) billion, including $3.6 billion in net after-tax litigation payments; adjusted free cash flow of $1.5 billion
The filing
Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 22, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.