---
schema_version: "secwatch.filing_event.v1"
accession: "0000066740-23-000003"
form_type: "8-K"
ticker: "MMM"
cik: "0000066740"
company_name: "3M CO"
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T11:09:46.929177+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# 3M Q4 adjusted EPS $2.28, sales $8.1B; FY23 guidance weak; to cut 2,500 jobs

## Summary
- Q4 GAAP EPS $0.98 vs $2.31 y/y; adjusted EPS $2.28 vs $2.45; sales $8.1B (-6% YoY, organic +0.4%, missing guidance).
- Full-year 2022 adjusted EPS $10.10, down 6% from $10.73; sales $34.2B (-3%).
- FY23 guidance: adjusted EPS $8.50-$9.00 (vs $9.88 in 2022); adjusted organic sales growth -3% to flat.
- Plan to cut ~2,500 global manufacturing roles; Q1 restructuring charge $75M-$100M.
- PFAS manufacturing exit by end of 2025; beginning in 2023, adjusts PFAS results out of non-GAAP.

## SEC filing metadata
- accession: 0000066740-23-000003
- form_type: 8-K
- ticker: MMM
- cik: 0000066740
- company_name: 3M CO
- filed_at: 2023-01-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/66740/000006674023000003/0000066740-23-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/66740/000006674023000003/mmm-20230124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000066740-23-000003
- JSON: https://secwatch.observer/filing/0000066740-23-000003.json
- Plain text: https://secwatch.observer/filing/0000066740-23-000003.txt

## Key facts
- Earnings Releases
  3M CO reported Full Year 2022 results: revenue $34.2 billion, EPS $10.18 GAAP earnings per share, $10.10 adjusted earnings per share.
  - Period: Full Year 2022
  - Revenue: $34.2 billion
  - EPS: $10.18 GAAP earnings per share, $10.10 adjusted earnings per share
  - Result: reported results
  source text: Full-Year Highlights: Full Year 2022 Full Year 2021 GAAP EPS $ 10.18 $ 10.12 Special Items (0.08) 0.61 Adjusted EPS $ 10.10 $ 10.73 Memo: GAAP operating income margin 19.1 % 20.8 % Adjusted operating income margin 20.8 % 22.2 % See the “Supplemental Financial Information Non-GAAP Measures” section for applicable information. • Sales of $34.2 billion, down 3 percent year-on-year, which included impacts of negative 1 percent from divestitures and negative 4 percent from foreign currency translation due to strength of U.S. dollar.
  evidence_url: https://www.sec.gov/Archives/edgar/data/66740/000006674023000003/0000066740-23-000003-index.htm
- Earnings Releases
  3M CO reported Q4 2022 results: revenue $8.1 billion, EPS $0.98 GAAP earnings per share, $2.28 adjusted earnings per share.
  - Period: Q4 2022
  - Revenue: $8.1 billion
  - EPS: $0.98 GAAP earnings per share, $2.28 adjusted earnings per share
  - Result: reported results
  source text: Fourth-Quarter Highlights: • Company reports GAAP earnings per share of $0.98, which included a $1.15 per share pre-tax charge relating to PFAS manufacturing exit costs adjusted for in special items. • Adjusted earnings per share of $2.28, excluding the impact of special items. Q4 2022 Q4 2021 GAAP EPS $ 0.98 $ 2.31 Special Items 1.30 0.14 Adjusted EPS $ 2.28 $ 2.45 Memo: GAAP operating income margin 7.8 % 18.8 % Adjusted operating income margin 19.1 % 20.0 % See the “Supplemental Financial Information Non-GAAP Measures” section for applicable information. • Sales of $8.1 billion, down 6 percent year-on-year, which included impacts of negative 2 percent from divestitures and negative 5 percent from foreign currency translation due to strength of U.S. dollar.
  evidence_url: https://www.sec.gov/Archives/edgar/data/66740/000006674023000003/0000066740-23-000003-index.htm
- Earnings Releases
  3M CO reported Full Year 2023 results: EPS $8.50 to $9.00 adjusted earnings per share. Guidance initiated.
  - Period: Full Year 2023
  - EPS: $8.50 to $9.00 adjusted earnings per share
  - Guidance: initiated
  source text: Full-Year 2023 Outlook 3M's full-year expectations for 2023 include the following: • -6 to -2 percent adjusted total sales growth^ reflecting the following: ◦ -3 percent to flat adjusted organic sales growth^, includes -2 percentage point impact from disposable respirator decline and exit of Russia ◦ -2 to -1 percent adjusted foreign currency translation impact^ ◦ -1 percent adjusted divestiture impact^ • Adjusted earnings per share^ of $8.50 to $9.00, versus 2022 of $9.88 on a comparable basis ◦ 2023 adjusted earnings per share include -$0.55 to -$0.80 of combined year-on-year headwinds from the decline in disposable respirator demand, exit of Russia, foreign currency translation, and divestitures
  evidence_url: https://www.sec.gov/Archives/edgar/data/66740/000006674023000003/0000066740-23-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.