New York, January 21, 2026, 11:56 EST — Regular session
- 3M shares climbed in mid-session trading, rebounding from Tuesday’s steep post-earnings slide
- Investors are balancing 2026 profit forecasts with shifting consumer demand
- Tariff uncertainty now takes center stage in discussions about near-term margins
3M shares climbed 0.7% to $157.26 in late morning trading Wednesday, recovering some ground after the sharp drop the day before as investors weighed the company’s 2026 forecast.
3M’s stock swing rippled through the Dow. Its $11.62 decline Tuesday was among the largest drags on the price-weighted index, which sank 888 points, according to MarketWatch data. (MarketWatch)
3M on Tuesday projected adjusted earnings for 2026 between $8.50 and $8.70 per share, with the midpoint falling a cent short of Wall Street’s forecast. The company flagged ongoing uneven demand. CEO Bill Brown noted that a current 20-cent-per-share tariff impact is already factored into those numbers. He added that potential new U.S. tariffs on eight European countries could trim $30 million to $40 million from 2026 earnings if imposed. Some consumer-facing segments, such as roofing granules and the automotive aftermarket, may remain under pressure early in the year. CFO Anurag Maheshwari told analysts he expects the “macro in 2026 to be a little bit better.” (Reuters)
Saint Paul, Minnesota-based 3M reported fourth-quarter adjusted earnings of $1.83 per share on roughly $6.0 billion in adjusted sales. The company posted 2.2% adjusted organic sales growth, which excludes currency fluctuations and acquisitions. Adjusted operating margin climbed to 21.1%. Looking ahead, 3M expects about 4% adjusted sales growth in 2026, with adjusted EPS between $8.50 and $8.70. “Our accelerated pace of innovation and commercial execution positions us to outperform the macro environment again in 2026,” said Brown. (3M Company)
Adjusted results strip out some one-off items, and 3M still carries quite a few of those. The key question for investors: can pricing power and cost reductions continue to boost margins even as U.S. consumer spending slows?
The consumer segment, covering home and office goods, has lagged behind. A lackluster report in that area can overshadow solid industrial demand. Traders seemed unwilling to hang on for confirmation.
RBC Capital raised its price target to $136 from $131 on Wednesday but maintained an “Underperform” rating, citing ongoing consumer weakness and highlighting what it called “under-appreciated” risks linked to PFAS — the so-called “forever chemicals” involved in prolonged litigation. The gap between the target and current share price underscores the downside risk if tariff costs climb or legal bills spike again. (Investing)
If Washington follows through on its tariff threat, exporters such as 3M could face rapidly rising costs across their supply chains. The company’s current guidance factors in a baseline impact, but a bigger hit would challenge how much of those expenses it can shift onto customers.
Investors are eyeing February 1 as a key date, when President Donald Trump announced a 10% tariff would kick in on imports from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Great Britain. For 3M, any official action before then—or indications the tariffs might be delayed or scrapped—could drive the next move in MMM shares. (Reuters)
