3M Q2 GAAP loss of $12.35/sh from $10.3B PFAS charge; raises adj. EPS view to $8.60-$9.10

3M CO

2023-Q2 EPS reported -$10.60 revenue$16,356,000,000

GAAP EPS loss of $12.35 vs prior-year EPS of $0.14; includes $10.3B pre-tax charge for PFAS PWS settlement.
Adjusted EPS of $2.17, down from $2.45; includes $212M restructuring charges (-$0.31/sh).
Net sales $8.325B, down 4.3% YoY; organic sales decline 2.2% (1.7 ppt headwind from respirator demand).
Operating cash flow $1.5B, up 34% YoY; adjusted free cash flow $1.5B, up 44%.
Full-year 2023 adjusted EPS guidance raised to $8.60-$9.10 from $8.50-$9.00; other guidance unchanged.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

3M CO reported second quarter 2023 results: revenue $8,325, EPS $(12.35). Guidance raised.

Period: second quarter 2023
Revenue: $8,325
EPS: $(12.35)
Guidance: raised
Result: reported results

Exact text from the filing

per share. • Adjusted operating income margin of 19.3% includes a 2.7 percentage point headwind from pre-tax restructuring charges. GAAP Adjusted (Non-GAAP) Net sales (Millions) $8,325 $7,993 Sales change Total sales (4.3)% (4.7)% Components of sales change: Organic sales 1 (2.2)% (2.5)% Acquisitions/divestitures (1.2)% (1.3)% Translation (0.9)% (0.9)% Adjusted

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

3M CO filing history →

Source: SEC EDGAR

accession 0000066740-23-000056

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