CLAIM #42599 · 3M Company (MMM) · 2025Q2 earnings call · Jul 18, 2025 · due Dec 31, 2025
“In the first half, we grew 1.5%. So that would imply a 2.5% growth in the back half. And we're expecting probably Q3 and Q4 to grow at similar levels around there.”
Anurag Maheshwari · CFO
In context
“we've had some big wins with government customers. So we do see the back half on safety accelerating there as well because of both a couple of wins that we've had, but some new product introductions. Julian Mitchell: That's great. And then just focusing a little bit on the second half guidance. Often your third quarter earnings are up a little bit sequentially, but I understand you had that $0.06 gain moving into the second quarter. Maybe help us understand how we should be thinking about third quarter versus fourth quarter dynamics. Anything to call out on sales or the margin progression? Anurag Maheshwari: Yes. Thanks, Julian. It's Anurag here. So listen, within the second half, let's just first start with the top line. Our guidance for the full year is approximately 2% organic growth. In the first half, we grew 1.5%. So that would imply a 2.5% growth in the back half. And we're expecting probably Q3 and Q4 to grow at similar levels around there. In terms of EPS, Q3 is historically higher than Q4, and -- that's what is is because seasonally, our revenue is higher in Q3 than in Q4 and also on the margin side, it's higher. The ratio has been, if you look at the second half, 52% of the EPS of the second half is in Q3, about 48% is in Q4. So we kind of expect the same trend this year as well. Operator: Our next question comes from the line of Amit Mehrotra with UBS. Amit Mehrotra: I guess maybe just a separate topic, talk about PFAS. I think there was obviously a nice settlement or not a nice settlement, but a decent settlement size, with the state of New Jersey, I think you have 30 more states still pending. There's obviously a personal injury suit still outstanding. But just given the development in New Jersey and kind of the struct”
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SEC filings for MMM ↗ · Claim quote is verbatim from the 2025Q2 earnings call.