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Mar 31, 2021
3M Q1 2021 Earnings Report
Reported broad-based organic growth, robust cash flow and a double-digit increase in earnings per share.
Key Takeaways
3M reported a strong first quarter with sales growing by 9.6% year-on-year to $8.9 billion and both GAAP and adjusted earnings were $2.77 per share, resulting in year-on-year increases of 23 percent and 27 percent, respectively.
Sales grew 9.6 percent year-on-year to $8.9 billion.
Organic local-currency sales increased 8.0 percent.
First quarter operating income was $2.0 billion.
Both first-quarter GAAP and adjusted earnings were $2.77 per share.
Forward Guidance
3M’s full-year 2021 guidance remains unchanged with earnings expected to be in the range of $9.20 to $9.70 per share. The company expects its full-year total sales growth in the range of 5 to 8 percent with organic local-currency growth between 3 to 6 percent. 3M also expects its full-year free cash flow conversion to be in the range of 95 to 105 percent
Historical Earnings Impact
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Avg. Return Before/After Earnings
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