3M reported third quarter 2024 net income of $1.37 billion, or $2.48 per share, compared to a loss of $2.53 billion in Q3 2023. Sales increased 0.4% year-over-year to $6.29 billion, with organic sales showing resilience across key segments. Operating income reached $1.32 billion with a 20.9% margin, reflecting strong operational execution and productivity improvements.The Transportation and Electronics segment saw operating margins expand to 20.4%, while Safety and Industrial maintained solid performance with 23.5% margins despite cost pressures. The Consumer segment faced headwinds from softer discretionary spending but delivered 20.2% operating margins through productivity initiatives. The company's strategic portfolio management continued with the successful separation of its healthcare business Solventum in April 2024.3M made significant progress on legal settlements, with over 99% participation achieved in the Combat Arms Earplugs settlement. The company maintained strong liquidity with $7.3 billion in cash and marketable securities while reducing total debt by $2.85 billion from year-end 2023. Management remains focused on operational excellence, cost discipline, and strategic growth investments while advancing its commitment to exit PFAS manufacturing by end of 2025.

3M reported third quarter 2024 net income of $1.37 billion, or $2.48 per share, compared to a loss of $2.53 billion in Q3 2023. Sales increased 0.4% year-over-year to $6.29 billion, with organic sales showing resilience across key segments. Operating income reached $1.32 billion with a 20.9% margin, reflecting strong operational execution and productivity improvements.The Transportation and Electronics segment saw operating margins expand to 20.4%, while Safety and Industrial maintained solid performance with 23.5% margins despite cost pressures. The Consumer segment faced headwinds from softer discretionary spending but delivered 20.2% operating margins through productivity initiatives. The company's strategic portfolio management continued with the successful separation of its healthcare business Solventum in April 2024.3M made significant progress on legal settlements, with over 99% participation achieved in the Combat Arms Earplugs settlement. The company maintained strong liquidity with $7.3 billion in cash and marketable securities while reducing total debt by $2.85 billion from year-end 2023. Management remains focused on operational excellence, cost discipline, and strategic growth investments while advancing its commitment to exit PFAS manufacturing by end of 2025.