3M fourth-quarter profit beats estimates as cost cuts boost margins
3M sealant is displayed at a Home Depot store on April 30, 2024 in San Rafael, California.
Justin Sullivan | Getty Images
Industrial giant 3M posted fourth-quarter adjusted profit above Wall Street estimates on Tuesday, as cost cuts and price hikes drove an improvement in margins.
The introduction of new products under CEO Bill Brown has also helped 3M shore up margins, cushioning the company from weak consumer demand against a prolonged inflationary backdrop.
The company’s adjusted profit stood at $1.83 per share during the period, compared with analysts’ estimate of $1.80 per share, according to data compiled by LSEG.
3M forecast adjusted profit for full-year 2026 in the range of $8.50 to $8.70 per share, the midpoint of which is a cent below estimates of $8.61.
Shares of the Scotch-tape and Post-it maker fell 4% before the bell.
“Our accelerated pace of innovation and commercial execution positions us to outperform the macro environment again in 2026,” said CEO Brown in a statement.
Saint Paul, Minnesota-based 3M posted quarterly adjusted revenue of $6.02 billion, slightly above LSEG-compiled estimates of $6.01 billion.
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