3M Company MMM is benefiting from sustained strength in its Safety & Industrial segment, which remains a key growth driver. Healthy demand across personal safety, industrial adhesives and tapes, abrasives and electrical has been supporting the segment’s momentum. In the first three months of 2026, sales in the personal safety, industrial adhesives and tapes, abrasives and electrical markets collectively increased in the mid-single-digit range.
Stable demand for electrical infrastructure products like medium voltage cable accessories and insulation tapes further aided performance. The segment posted adjusted organic sales growth of 3.2% year over year in the first quarter. Its adjusted operating margin also improved 100 basis points year over year, supported by higher sales volumes, productivity initiatives and disciplined capital allocation, though partially offset by continued investments aimed at business expansion and tariffs. However, weakness in the roofing granules business is concerning for 3M.
Driven by solid execution across its operations, 3M issued an encouraging outlook for 2026. The company projects adjusted organic sales growth of approximately 3% year over year. Adjusted earnings are expected between $8.50 and $8.70 per share, with the midpoint of $8.60 indicating growth from adjusted earnings of $8.06 per share recorded in 2025.
Segmental Snapshot of MMM’s Peers
Among 3M’s major peers, Carlisle Companies Incorporated’s CSL Carlisle Construction Materials segment decreased 5.1% year over year in the first quarter of 2026. Carlisle’s segment’s revenues were offset by the weakness in the new construction market. It contributed approximately 72.2% of Carlisle’s total revenues during the quarter.
MMM’s another peer, Honeywell International Inc. HON, is witnessing solid momentum in its Building Automation segment, driven by ongoing strength in both the building solutions and building products businesses. In the first quarter of 2026, Honeywell’s segment’s revenues increased 11% year over year. It contributed approximately 20.6% to Honeywell’s total revenues during the quarter.
The Zacks Rundown for MMM
Shares of 3M have declined 3.1% in the past year compared with the industry’s decrease of 5.2%.
Image Source: Zacks Investment Research
From a valuation standpoint, 3M is trading at a forward price-to-earnings ratio of 16.03X, above the industry average of 13.52X. MMM carries a Value Score of D.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for MMM’s earnings for 2026 and 2027 has increased 1.3% and 1%, respectively, in the past 60 days.
Image Source: Zacks Investment Research
MMM stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).