Full-Year 2023 Outlook
3M’s full-year expectations for 2023 include the following:
- -6 to -2 percent adjusted total sales growth^ reflecting the following:
- -3 percent to flat adjusted organic sales growth^, includes -2 percentage point impact from disposable respirator decline and exit of Russia
- -2 to -1 percent adjusted foreign currency translation impact^
- -1 percent adjusted divestiture impact^
- Adjusted earnings per share^ of $8.50 to $9.00, versus 2022 of $9.88 on a comparable basis
- 2023 adjusted earnings per share include -$0.55 to -$0.80 of combined year-on-year headwinds from the decline in disposable respirator demand, exit of Russia, foreign currency translation, and divestitures
- Adjusted operating cash flow^ of $5.8 to $6.3 billion contributing to 90% to 100% adjusted free cash flow conversion^
