3M Margin Slide Overshadows EPS Beat -- Market Talk

Dow Jones

Jan 21

1127 ET - 3M's sharper-than-expected margin deterioration in 4Q overshadowed the small beat to EPS, says Morgan Stanley's Christopher Snyder. "The negative surprise in 4Q vs our model was margins," pointing to a 360-basis-point sequential drop that was worse than normal seasonality, the analyst says in a report. The consumer segment was the main drag, with operating income coming in 12% below consensus and margins falling to 18%. Snyder adds that this shortfall increases near-term risk to 1Q, despite 2026 guidance landing roughly in line with expectations. "FY26 EPS will be unchanged and we think that is as good of an outcome as short-cycle industrials will deliver this EPS season," he says. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

January 20, 2026 11:28 ET (16:28 GMT)

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One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2605172261"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2605172261\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2605172261?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-01-21 00:28","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2605172261","market":"hk","top_or_hot":-1,"title":"3M Margin Slide Overshadows EPS Beat -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1127 ET - <a href=\"https://laohu8.com/S/MMM\">3M</a>'s sharper-than-expected margin deterioration in 4Q overshadowed the small beat to EPS, says Morgan Stanley's Christopher Snyder. \"The negative surprise in 4Q vs our model was margins,\" pointing to a 360-basis-point sequential drop that was worse than normal seasonality, the analyst says in a report. The consumer segment was the main drag, with operating income coming in 12% below consensus and margins falling to 18%. Snyder adds that this shortfall increases near-term risk to 1Q, despite 2026 guidance landing roughly in line with expectations. \"FY26 EPS will be unchanged and we think that is as good of an outcome as short-cycle industrials will deliver this EPS season,\" he says. 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The consumer segment was the main drag, with operating income coming in 12% below consensus and margins falling to 18%. Snyder adds that this shortfall increases near-term risk to 1Q, despite 2026 guidance landing roughly in line with expectations. \"FY26 EPS will be unchanged and we think that is as good of an outcome as short-cycle industrials will deliver this EPS season,\" he says. (adriano.marchese@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 20, 2026 11:28 ET (16:28 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MMM","symbol_name":"3M","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2605172261","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2605172261","pubTimestamp":1768926480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1127 ET - 3M's sharper-than-expected margin deterioration in 4Q overshadowed the small beat to EPS, says Morgan Stanley's Christopher Snyder. \"The negative surprise in 4Q vs our model was margins,\" pointing to a 360-basis-point sequential drop that was worse than normal seasonality, the analyst says in a report. The consumer segment was the main drag, with operating income coming in 12% below consensus and margins falling to 18%. Snyder adds that this shortfall increases near-term risk to 1Q, despite 2026 guidance landing roughly in line with expectations. \"FY26 EPS will be unchanged and we think that is as good of an outcome as short-cycle industrials will deliver this EPS season,\" he says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MMM":"3M"},"translate_title":"3M利润率下滑盖过每股收益增长——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MMM":1.5},"content_text":"1127 ET - 3M's sharper-than-expected margin deterioration in 4Q overshadowed the small beat to EPS, says Morgan Stanley's Christopher Snyder. \"The negative surprise in 4Q vs our model was margins,\" pointing to a 360-basis-point sequential drop that was worse than normal seasonality, the analyst says in a report. The consumer segment was the main drag, with operating income coming in 12% below consensus and margins falling to 18%. Snyder adds that this shortfall increases near-term risk to 1Q, despite 2026 guidance landing roughly in line with expectations. \"FY26 EPS will be unchanged and we think that is as good of an outcome as short-cycle industrials will deliver this EPS season,\" he says. (adriano.marchese@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 20, 2026 11:28 ET (16:28 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}