---
schema_version: "secwatch.filing_event.v1"
accession: "0000066740-23-000023"
form_type: "8-K"
ticker: "MMM"
cik: "0000066740"
company_name: "3M CO"
filed_at: "2023-04-25T23:59:59+00:00"
generated_at: "2026-06-16T17:18:51.815582+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# 3M posts Q1 adj EPS $1.97, down from $2.63; sales $8B, -9% YoY; announces restructuring of 6,000 jobs

## Summary
- GAAP EPS $1.76 (down from $2.26); adjusted EPS $1.97 (down from $2.63).
- Sales $8.0B, down 9.0% YoY; organic sales -4.9%; foreign currency headwind 2.8%.
- Restructuring to eliminate ~6,000 positions globally, plus 2,500 earlier in 2023; annual pre-tax savings $700M-$900M.
- Total pre-tax charges $700M-$900M; ~half expected in 2023, with $175M-$250M in Q2 2023.
- Full-year 2023 guidance: adj EPS $8.50-$9.00; adj sales growth -6% to -2%.

## SEC filing metadata
- accession: 0000066740-23-000023
- form_type: 8-K
- ticker: MMM
- cik: 0000066740
- company_name: 3M CO
- filed_at: 2023-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/66740/000006674023000023/0000066740-23-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/66740/000006674023000023/mmm-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000066740-23-000023
- JSON: https://secwatch.observer/filing/0000066740-23-000023.json
- Plain text: https://secwatch.observer/filing/0000066740-23-000023.txt

## Key facts
- Earnings Releases
  3M CO reported First-Quarter 2023 results: revenue $8.0 billion, EPS $1.76. Guidance reaffirmed.
  - Period: First-Quarter 2023
  - Revenue: $8.0 billion
  - EPS: $1.76
  - Guidance: reaffirmed
  - Result: reported results
  source text: First-Quarter Highlights: • Company reports GAAP earnings per share of $1.76. • Adjusted earnings per share of $1.97, excluding the impact of special items. Q1 2023 Q1 2022 GAAP EPS $ 1.76 $ 2.26 Special items 0.21 0.37 Adjusted EPS $ 1.97 $ 2.63 Memo: GAAP operating income margin 15.4 % 18.6 % Adjusted operating income margin 17.9 % 22.0 % See the “Supplemental Financial Information Non-GAAP Measures” section for applicable information. • Sales of $8.0 billion, down 9.0 percent year-on-year
  evidence_url: https://www.sec.gov/Archives/edgar/data/66740/000006674023000023/0000066740-23-000023-index.htm

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