CLAIM #42680 · 3M Company (MMM) · 2025Q4 earnings call · Jan 20, 2026 · due Dec 31, 2026
“So overall, we are going to see about a 125 to $150 million increase between volume and productivity in '26.”
Anurag Maheshwari · CFO
How to check this claim
Look at: Combined increase in operating income from volume and productivity, fiscal year 2026 vs 2025
It came true if: Increase between $125 million and $150 million (volume ~$250M + productivity ~$600M vs 2025's $750M combined)
Where: Company management commentary / segment operating income disclosures (10-K or Q4 2026 earnings call)
In context
“m double counting. Maybe some of that is already included in the 30, 40%. But you can unpack that for us, I think that would be helpful. And then on the first quarter specifically, you said high single digits. Not to be nitpicky, but are we kind of above $2 share in one Q? Like, any finer point would be helpful. Anurag Maheshwari: Okay. Great. Thanks for the question, Amit. Just firstly, you look at both volume and productivity in 2026, it is going to be higher than what it was in 2025. Yeah. So in '25, between volume and productivity, we had about $750 million of operating income increase, and that was a 2.1% organic revenue growth. With 3% growth, the $200 million of volume will now become closer to $250 million, and productivity actually goes up from $550 million to about $600 million. So overall, we are going to see about a 125 to $150 million increase between volume and productivity in '26. And the productivity is going up on three real buckets around there. First is on supply chain. We expect half of that to come out of the supply chain, which is continued cost of poor quality, bringing it down, procurement, you know, managing a four-wall spend in the factory and logistics. There is about a $150 million of indirect expenses. We did a good job in '25. We will continue to do that in '26. And another $150 million in G&A efficiency as we look at our processes of optimization and so on. So overall, I would say that the incrementals between volume, between productivity, and the volume growth is going to be higher. What is offset in '26 is the half a billion dollars, which is being offset in '26. One is a pickup in investments. Last year, we did $185 million. We are going to do an”
Verify independently
SEC filings for MMM ↗ · Claim quote is verbatim from the 2025Q4 earnings call.