First-quarter profit rose 2.4 percent, boosted by cost cutting, Minnesota Mining said in a statement. The company has about 75,000 employees.
Analysts anticipate further changes.
The stock had climbed 22 percent in the past year. Minnesota Mining's shares posted their biggest gain in more than 13 years after McNerney was named CEO in December. Investors had been pushing for 3M to hire someone from outside to run the company. The volume of international sales, which increased 15 percent in the quarter, may weaken in the coming year, particularly in Asia, McNerney said on a conference call. U.S. sales, which fell 2 percent, will be the same or slightly less, he said.