3M Company (NYSE:MMM) Q3 2023 Earnings Conference Call October 24, 2023 9:00 AM ET

Company Participants

Bruce Jermeland - Senior Vice President of Investor Relations

Michael Roman - Chairman & Chief Executive Officer

Monish Patolawala - President and Chief Financial Officer

Conference Call Participants

Scott Davis - Melius Research

Andrew Obin - Bank of America

Joe Ritchie - Goldman Sachs

Christopher Snyder - UBS

Andrew Kaplowitz - Citigroup

Deane Dray - RBC Capital Markets

Stephen Tusa - JPMorgan Securities

Nigel Coe - Wolfe Research, LLC

Julian Mitchell - Barclays

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the 3M Third Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, Tuesday, October 24, 2023.

I would now like to turn the call over to Bruce Jermeland, Senior Vice President of Investor Relations at 3M.

Bruce Jermeland

Thank you and good morning, everyone and welcome to our second quarter earnings conference call. With me today are Mike Roman, 3M's Chairman and Chief Executive Officer; and Monish Patolawala, our President and Chief Financia. Mike and Monish will make some formal comments, and then we will take your questions. Please note that today's earnings release and slide presentation acCompanying this call are posted on the homepage of our Investor Relations website @3m.com.

Please turn to Slide two. Please take a moment to read the forward-looking statement. During today's conference call, we'll be making certain predictive statements that reflect our current views about 3M's future performance and financial results. These statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Item 1A of our most recent Form 10-Q lists some of the most important risk factors that could cause actual results to differ from our predictions. Please note, throughout today's presentation, we'll be making references to certain non-GAAP financial measures. Reconciliations of the non-GAAP measures can be found in the attachments to today's press release.

With that, please turn to Slide three and I'll now hand the call off to Mike. Mike?

Michael Roman

Thank you, Bruce. Good morning, everyone, and thank you for joining us. In the third quarter, we built momentum through strong operational execution as we again delivered for our customers, positioning us for a solid close to 2023. On an adjusted basis, we delivered earnings ahead of our expectations, expanded margins sequentially across all four businesses, and achieved our third consecutive quarter of double-digit year-on-year growth in free cash flow.