3M Company (MMM) is the kind of business that tends to show up in everyday life without demanding much attention. Behind the scenes, the Minnesota-based manufacturer has built a sprawling portfolio of products spanning healthcare, transportation, electronics, construction, and consumer goods.
From adhesives and filters to safety gear, medical supplies, automotive materials, packaging products, and cleaning solutions, 3M has turned its expertise in science, engineering, and manufacturing into products used by businesses and consumers around the world. With a market capitalization of $87.4 billion, the company reaches customers through direct sales, distributors, retailers, and online channels, supported by a global network covering research, development, manufacturing, and distribution.
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That broad business mix will be in focus when 3M reports its Q3 2026 results soon. Wall Street expects diluted EPS of $2.40, representing a 9.6% increase from $2.19 a year earlier. The company also has some momentum to build on, having topped analysts’ EPS estimates in each of its last four quarters.
Looking further ahead, analysts expect 3M’s fiscal 2026 EPS to reach $8.96, up 11.2% from $8.06 in fiscal 2025. Expectations then move higher again, with fiscal 2027 EPS projected at $9.78, a 9.2% year-over-year (YOY) increase.
www.barchart.com MMM stock has delivered a solid 9.4% gain over the past 52 weeks, though it has lagged both the broader market and its industrial peers. Over the same period, the S&P 500 Index ($SPX) has climbed 15.2%, while the State Street Industrials Select Sector SPDR ETF (XLI) has returned 10.5%, leaving 3M’s stock with some catching up to do.
www.barchart.com MMM’s 2026 ride has been a bit of a tug-of-war between lingering concerns and signs that the business is getting back on track. Litigation has remained one of the biggest clouds over the stock. 3M has agreed to pay up to $12.5 billion to settle PFAS-related claims involving public water systems and up to $6 billion to resolve claims from veterans over its Combat Arms earplugs. Those hefty liabilities have continued to weigh on sentiment.
But there have been some brighter spots. As the year progressed, investors started looking beyond the legal bills and toward improving execution. CEO William Brown said on-time, in-full deliveries have improved from the low-80% range to around 90%, while 3M plans roughly 350 product launches in 2026. The company also expects new products to account for 20% of sales by the end of 2027.
There is another growth angle, too. 3M sees expanded-beam optical technology as an opportunity in data centers and expects to generate roughly $400 million in growth above its underlying markets this year.
The improving fundamentals got a bigger boost when 3M topped Q2 expectations with adjusted EPS coming in at $2.40 and revenue amounting to $6.5 billion. The industrial conglomerate also raised its full-year adjusted EPS guidance to $8.80 to $8.95, and guided adjusted total sales growth of over 4.5%, showing adjusted organic sales growth of more than 3.5%. Adjusted operating margin is expected to be 24.9%. The stock responded by climbing in July.
More recently, the stock rose after Bernstein upgraded MMM to “Market Perform” from an “Underperform” and raised its price target to $171 from $145, citing progress in R&D, margin opportunities, and reduced PFAS liability risks.
Even so, Wall Street has not lost confidence in 3M’s longer-term prospects. MMM stock currently carries a consensus “Moderate Buy” rating. Out of 17 analysts covering the stock, opinions include eight “Strong Buys,” eight “Holds,” and one “Strong Sell.” The average analyst price target is $189.76, suggesting a potential upside of 12.6% from current levels.
On the date of publication, Sristi Suman Jayaswal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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