3M raised its 2026 adjusted earnings forecast to $9.10 to $9.15 per share after third-quarter sales rose 1% to $6.6 billion, while a revised non-GAAP calculation changed the basis for comparison.
The new range is above the $8.80 to $8.95 per share forecast 3M gave in July, but the two outlooks use different calculations. Under its updated non-GAAP method, the company treats intangible asset amortization as a special item. 3M said results so far this year and its acquisition of Madison Fire & Rescue informed the updated outlook.
For the third quarter, reported earnings rose to $2.63 per share from $1.55 a year earlier. Adjusted earnings per share increased 12% to $2.50, and adjusted operating margin reached 26.2%, compared with 25.1% a year earlier.
The non-GAAP reporting change added about $0.04 to third-quarter adjusted earnings per share and 0.4 percentage points to adjusted operating margin, 3M said. The company calculated adjusted results for both periods on the revised basis.
Sales in Safety and Industrial grew 9.1%. Transportation and Electronics sales rose 0.4%, while Consumer sales fell 0.4%. Companywide adjusted sales, which exclude manufactured PFAS products, increased 4.2%.
3M maintained its forecast for adjusted sales growth above 4.5% this year, including adjusted organic growth above 3.5%.
