3M (MMM) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter declined significantly compared to the same period last year, while remaining nearly unchanged from the immediately preceding quarter. The company's top line continued to show weakness on an annual basis.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter declined significantly compared to the same period last year, while remaining nearly unchanged from the immediately preceding quarter. The company's top line continued to show weakness on an annual basis.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.3B
Revenue reported for this quarter.
Quarter-over-quarter
-0.2%
Change from the immediately preceding quarter.
Year-over-year
-27.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$18.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $11M | -99.9% |
| Mar 31, 2023 | $6.1B | -31.4% |
| Jun 30, 2023 | $6.3B | -27.8% |
| Sep 30, 2023 | $6.3B | -27.3% |
Revenue performance
Sequential revenue was essentially flat, with a minimal change from the previous quarter. Year-over-year, however, revenue saw a substantial drop.
Quarterly comparison
Compared to the prior quarter, revenue held steady, while versus the same quarter a year ago, revenue fell sharply.
What to watch
The persistent year-over-year decline in revenue warrants attention.