3M Reports Fourth-Quarter and Full-Year 2024 Results; Initiates Full-Year 2025 Financial Guidance
3M (MMM) reported Q4 2024 results with sales of $6.0 billion, up 0.1% year-over-year, and adjusted sales of $5.8 billion showing organic growth of 2.1%. Q4 GAAP EPS from continuing operations reached $1.33, up 17% YoY, while adjusted EPS was $1.68, down 2% YoY.
For full-year 2024, the company posted sales of $24.6 billion, down 0.1% YoY, with adjusted sales of $23.6 billion showing organic growth of 1.2%. Full-year GAAP EPS from continuing operations was $7.26, with adjusted EPS of $7.30, up 21% YoY. The company generated operating cash flow of $1.8 billion and adjusted free cash flow of $4.9 billion.
Looking ahead to 2025, 3M expects adjusted total sales growth of 0.5% to 1.5%, with adjusted organic sales growth of 2% to 3%. The company projects adjusted EPS between $7.60 and $7.90, and adjusted operating cash flow of $5.2 to $5.3 billion.
3M (MMM) ha riportato i risultati del quarto trimestre 2024 con vendite di 6,0 miliardi di dollari, in aumento dello 0,1% rispetto all'anno precedente, e vendite rettificate di 5,8 miliardi di dollari che mostrano una crescita organica del 2,1%. L'EPS GAAP del Q4 dalle operazioni continuative ha raggiunto 1,33 dollari, con un aumento del 17% anno su anno, mentre l'EPS rettificato è stato di 1,68 dollari, in calo del 2% rispetto all'anno precedente.
Per l'intero anno 2024, l'azienda ha registrato vendite di 24,6 miliardi di dollari, in calo dello 0,1% anno su anno, con vendite rettificate di 23,6 miliardi di dollari che mostrano una crescita organica dell'1,2%. L'EPS GAAP per l'anno completo dalle operazioni continuative è stato di 7,26 dollari, con un EPS rettificato di 7,30 dollari, in aumento del 21% rispetto all'anno precedente. L'azienda ha generato flusso di cassa operativo di 1,8 miliardi di dollari e flusso di cassa libero rettificato di 4,9 miliardi di dollari.
Guardando al 2025, 3M prevede una crescita delle vendite totali rettificate compresa tra lo 0,5% e l'1,5%, con una crescita organica delle vendite rettificate tra il 2% e il 3%. L'azienda prevede EPS rettificati compresi tra 7,60 e 7,90 dollari, e un flusso di cassa operativo rettificato di 5,2-5,3 miliardi di dollari.
3M (MMM) informó los resultados del cuarto trimestre de 2024 con ventas de 6.0 mil millones de dólares, un aumento del 0.1% interanual, y ventas ajustadas de 5.8 mil millones de dólares que muestran un crecimiento orgánico del 2.1%. El EPS GAAP del Q4 de operaciones continuas alcanzó 1.33 dólares, un aumento del 17% interanual, mientras que el EPS ajustado fue de 1.68 dólares, una disminución del 2% interanual.
Para el año completo 2024, la compañía reportó ventas de 24.6 mil millones de dólares, una disminución del 0.1% interanual, con ventas ajustadas de 23.6 mil millones de dólares que muestran un crecimiento orgánico del 1.2%. El EPS GAAP para el año completo de operaciones continuas fue de 7.26 dólares, con un EPS ajustado de 7.30 dólares, un aumento del 21% interanual. La empresa generó un flujo de efectivo operativo de 1.8 mil millones de dólares y un flujo de efectivo libre ajustado de 4.9 mil millones de dólares.
Mirando hacia 2025, 3M espera un crecimiento de ventas totales ajustadas del 0.5% al 1.5%, con un crecimiento de ventas orgánicas ajustadas del 2% al 3%. La compañía proyecta un EPS ajustado entre 7.60 y 7.90 dólares, y un flujo de efectivo operativo ajustado de 5.2 a 5.3 mil millones de dólares.
3M (MMM)은 2024년 4분기 결과를 보고하며 매출이 60억 달러로 작년 대비 0.1% 증가했으며, 조정된 매출은 58억 달러로 유기적 성장률은 2.1%를 보였습니다. 4분기 GAAP EPS는 계속 운영 중인 사업에서 1.33달러로 지난해보다 17% 증가했으며, 조정된 EPS는 1.68달러로 지난해 대비 2% 감소했습니다.
2024년 전체 연도 동안 이 회사는 매출이 246억 달러로 작년 대비 0.1% 감소했으며, 조정된 매출은 236억 달러로 유기적 성장률은 1.2%를 보였습니다. 전체 연도 GAAP EPS는 계속 운영 중인 사업에서 7.26달러였으며, 조정된 EPS는 7.30달러로 지난해보다 21% 증가했습니다. 이 회사는 18억 달러의 운영 현금 흐름과 49억 달러의 조정된 자유 현금 흐름을 생성했습니다.
2025년을 바라보며, 3M은 조정된 총 매출 성장률이 0.5%에서 1.5%로, 조정된 유기적 매출 성장률이 2%에서 3%로 예상하고 있습니다. 이 회사는 조정된 EPS가 7.60달러에서 7.90달러 사이일 것으로 예상하며, 조정된 운영 현금 흐름이 52억 달러에서 53억 달러가 될 것으로 보고 있습니다.
3M (MMM) a annoncé les résultats du quatrième trimestre 2024 avec un chiffre d'affaires de 6,0 milliards de dollars, en hausse de 0,1 % par rapport à l'année précédente, et des ventes ajustées de 5,8 milliards de dollars affichant une croissance organique de 2,1 %. Le BPA GAAP du quatrième trimestre provenant des activités poursuivies a atteint 1,33 dollar, en hausse de 17 % d'une année sur l'autre, tandis que le BPA ajusté était de 1,68 dollar, en baisse de 2 % d'une année sur l'autre.
Pour l'année entière 2024, l'entreprise a affiché un chiffre d'affaires de 24,6 milliards de dollars, en baisse de 0,1 % d'une année sur l'autre, avec des ventes ajustées de 23,6 milliards de dollars montrant une croissance organique de 1,2 %. Le BPA GAAP pour l'année complète provenant des activités poursuivies était de 7,26 dollars, avec un BPA ajusté de 7,30 dollars, en hausse de 21 % d'une année sur l'autre. L'entreprise a généré un flux de trésorerie d'exploitation de 1,8 milliard de dollars et un flux de trésorerie libre ajusté de 4,9 milliards de dollars.
En prévision de 2025, 3M s'attend à une croissance des ventes totales ajustées de 0,5 % à 1,5 %, avec une croissance des ventes organiques ajustées de 2 % à 3 %. L'entreprise projette un BPA ajusté compris entre 7,60 et 7,90 dollars, et un flux de trésorerie d'exploitation ajusté de 5,2 à 5,3 milliards de dollars.
3M (MMM) hat die Ergebnisse für das vierte Quartal 2024 veröffentlicht, mit einem Umsatz von 6,0 Milliarden Dollar, was einem Anstieg von 0,1% im Jahresvergleich entspricht. Der bereinigte Umsatz betrug 5,8 Milliarden Dollar und zeigt ein organisches Wachstum von 2,1%. Der GAAP EPS für das 4. Quartal aus fortgeführten Betrieben erreichte 1,33 Dollar, ein Anstieg von 17% im Jahresvergleich, während der bereinigte EPS bei 1,68 Dollar lag, was einem Rückgang von 2% im Vergleich zum Vorjahr entspricht.
Für das Gesamtjahr 2024 meldete das Unternehmen einen Umsatz von 24,6 Milliarden Dollar, was einem Rückgang von 0,1% im Jahresvergleich entspricht. Der bereinigte Umsatz lag bei 23,6 Milliarden Dollar und zeigte ein organisches Wachstum von 1,2%. Der GAAP EPS für das Gesamtjahr aus fortgeführten Betrieben betrug 7,26 Dollar, mit einem bereinigten EPS von 7,30 Dollar, was einem Anstieg von 21% im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte einen operativen Cashflow von 1,8 Milliarden Dollar und einen bereinigten freien Cashflow von 4,9 Milliarden Dollar.
Für 2025 erwartet 3M ein bereinigtes Gesamtwachstum des Umsatzes von 0,5% bis 1,5%, mit einem bereinigten organischen Umsatzwachstum von 2% bis 3%. Das Unternehmen prognostiziert einen bereinigten EPS zwischen 7,60 und 7,90 Dollar und einen bereinigten operativen Cashflow von 5,2 bis 5,3 Milliarden Dollar.
- Q4 organic sales growth of 2.1% YoY
- Full-year adjusted EPS up 21% to $7.30
- Strong adjusted free cash flow of $4.9 billion
- Returned $3.8 billion to shareholders via dividends and share repurchases
- Improved GAAP operating margin to 19.6% from -43.4% in previous year
- Q4 adjusted EPS declined 2% YoY to $1.68
- Full-year sales declined 0.1% to $24.6 billion
- Q4 adjusted operating margin decreased 0.2 percentage points YoY
- $3.8 billion net after-tax payments for litigation costs
Insights
The Q4 2024 results reveal a mixed but generally positive performance for 3M. Adjusted EPS of
Key positives include adjusted free cash flow of
However, investors should note the ongoing litigation costs and PFAS-related adjustments impacting reported figures. The strong cash flow generation provides flexibility for managing these challenges while maintaining shareholder returns.
The market positioning shows strategic shifts in 3M's business model. The
The separation of PFAS-related products from adjusted figures provides clearer visibility into core business performance. The
The financial impact of ongoing litigation remains significant. The results show continued costs for significant litigation, including Public Water Systems and Combat Arms Earplugs settlements. These resulted in
The separation of PFAS-related products from adjusted figures indicates proactive risk management and transparency in financial reporting. The company's ability to maintain strong adjusted free cash flow while managing substantial litigation payments demonstrates effective financial planning. However, ongoing legal obligations continue to impact reported GAAP results, requiring careful monitoring of settlement progress and potential future liabilities.
- Q4 sales of
$6.0 billion 0.1% YoY; adjusted sales of$5 2.1% YoY - Q4 GAAP EPS from continuing operations of
$1.33 17% YoY; adjusted EPS from continuing operations of$1.68 2% YoY - Full-year sales of
$24.6 billion 0.1% YoY; adjusted sales of$23.6 billion 1.2% YoY - Full-year GAAP EPS from continuing operations of
$7.26 $7.30 21% YoY - Full-year operating cash flow of
$1.8 billion $4.9 billion
"Our fourth quarter capped a year of strong results as we returned to positive organic revenue growth in the full year," said William Brown, 3M Chief Executive Officer. "I would like to thank the 3M team for their strong operational execution which helped us deliver double-digit earnings growth and robust free cash flow while returning
Fourth-Quarter Highlights:
Q4 2024 | Q4 2023 | |||||||
GAAP EPS from continuing operations (GAAP EPS) | $ 1.33 | $ 1.14 | ||||||
Special items: | ||||||||
Net costs for significant litigation | (0.07) | 0.36 | ||||||
(Increase) decrease in value of Solventum ownership | 0.24 | — | ||||||
Other special items, net | 0.18 | 0.20 | ||||||
Adjusted EPS from continuing operations (Adjusted EPS) | $ 1.68 | $ 1.70 | ||||||
Memo: | ||||||||
GAAP operating income margin | 18.1 % | 15.0 % | ||||||
Adjusted operating income margin | 19.7 % | 19.9 % |
- GAAP EPS of
$1.33 18.1% . - Adjusted EPS of
$1.68 2% year-on-year. - Adjusted operating income margin of
19.7% , a decrease of 0.2 percentage points year-on-year.
GAAP | Adjusted (Non-GAAP) | |||||||
Net sales (Millions) | ||||||||
Sales change | ||||||||
Total sales | 0.1 % | 2.2 % | ||||||
Components of sales change: | ||||||||
Organic sales1 | — % | 2.1 % | ||||||
Acquisitions/divestitures | 0.9 % | 0.9 % | ||||||
Translation | (0.8) % | (0.8) % | ||||||
Adjusted sales excludes manufactured PFAS products. | ||||||||
1Above adjusted organic sales increase includes a 70 basis point headwind from product portfolio initiatives and exit of | ||||||||
- Sales of
$6.0 billion 0.1% year-on-year with organic sales flat year-on-year. - Adjusted sales of
$5.8 billion 2.2% year-on-year with adjusted organic sales up2.1% year-on-year. - 3M returned
$1.1 billion - Cash from operations of
$1.8 billion - Adjusted free cash flow of
$1.3 billion
Full-Year Highlights:
Full Year 2024 | Full Year 2023 | |||||||
GAAP earnings (loss) per share from continuing operations | $ 7.26 | $ (15.17) | ||||||
Special items: | ||||||||
(Increase) decrease in value of Solventum ownership | (2.83) | — | ||||||
Net costs for significant litigation | 1.32 | 21.00 | ||||||
Pension risk transfer charge | 1.11 | — | ||||||
Other special items, net | 0.44 | 0.21 | ||||||
Adjusted earnings per share (EPS) from continuing operations | $ 7.30 | $ 6.04 | ||||||
Memo: | ||||||||
GAAP operating income (loss) margin | 19.6 % | (43.4) % | ||||||
Adjusted operating income margin | 21.4 % | 18.6 % |
- GAAP EPS of
$7.26 19.6% . - Adjusted EPS of
$7.30 21% year-on-year.
GAAP | Adjusted (Non-GAAP) | |||||||
Net sales (Millions) | ||||||||
Sales change | ||||||||
Total sales | (0.1) % | 1.3 % | ||||||
Components of sales change: | ||||||||
Organic sales2 | (0.2) % | 1.2 % | ||||||
Acquisitions/divestitures | 0.8 % | 0.9 % | ||||||
Translation | (0.7) % | (0.8) % | ||||||
Adjusted sales excludes manufactured PFAS products. | ||||||||
2Above adjusted organic sales increase includes a 110 basis point headwind from product portfolio initiatives | ||||||||
- Sales of
$24.6 billion - Adjusted sales of
$23.6 billion - 3M returned
$3.8 billion - Cash from operations of
$1.8 billion $3.8 billion - Adjusted free cash flow of
$4.9 billion
This document includes reference to certain non-GAAP measures. See the "Supplemental Financial Information Non-GAAP Measures" section for applicable information.
Full-Year 2025 Guidance
3M provided the following full-year 2025 expectations.
- Adjusted total sales growth3 in the range of 0.5 to 1.5 percent, reflecting adjusted organic sales3 growth of 2 to 3 percent.
- Adjusted EPS3 in the range of
$7.60 $7.90 - Adjusted operating cash flow3 of
$5.2 $5.3 billion
3As further discussed at 6 within the "Supplemental Financial Information Non-GAAP Measures" sections, 3M cannot, without unreasonable effort, forecast certain items required to develop meaningful comparable GAAP financial measures and, therefore, does not provide them on a forward-looking basis reflecting these items.
Conference Call
3M will conduct an investor teleconference at 9 a.m. ET (8 a.m. CT) today. Investors can access this conference via the following:
- Live webcast at https://investors.3M.com
- Webcast replay at https://investors.3m.com/financials/quarterly-earnings
Consolidated Financial Statements and Supplemental Financial Information Non-GAAP Measures
View the Financial Statement Information on 3M's website: https://investors.3m.com/financials/quarterly-earnings
Forward-Looking Statements
This news release contains forward-looking statements. You can identify these statements by the use of words such as "plan," "expect," "aim," "believe," "project," "target," "anticipate," "intend," "estimate," "will," "should," "could," "would," "forecast" and other words and terms of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties. Actual future results and trends may differ materially from historical results or those reflected in any such forward-looking statements depending on a variety of factors. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions and other factors beyond the Company's control, including inflation, recession, military conflicts, and natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) foreign currency exchange rates and fluctuations in those rates; (3) liabilities and the outcome of contingencies related to certain fluorochemicals; known as "PFAS," including liabilities related to claims, lawsuits, and government regulatory proceedings concerning various PFAS-related products and chemistries, as well as risks related to the Company's plans to exit PFAS manufacturing and work to discontinue use of PFAS across its product portfolio; (4) risks related to the class-action settlement to resolve claims by public water suppliers in
About 3M
3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what's possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we're working to improve lives and make what's next at 3M.com/news.
Please note that the company announces material financial, business and operational information using the 3M investor relations website, SEC filings, press releases, public conference calls and webcasts. The company also uses the 3M News Center and social media to communicate with our customers and the public about the company, products and services and other matters. It is possible that the information 3M posts on the News Center and social media could be deemed to be material information. Therefore, the company encourages investors, the media and others interested in 3M to review the information posted on 3M's news center and the social media channels such as @3M or @3MNews.
Contacts
3M
Investor Contacts:
Diane Farrow, 612-202-2449
or
Eric Herron, 651-233-0043
Media Contact:
Sean Lynch, slynch2@mmm.com
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SOURCE 3M Company
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