3M sales and earnings decline
3M reported sales of $30.3 billion in 2015, a 4.9 percent decline from the $31.8 billion recorded in 2014.
Sales in the fourth quarter of $7.3 billion were down 5.4 percent from $7.7 billion in the same period the previous year.
Fourth-quarter net income was $1.0 billion, compared to $1.2 billion the previous year.
In the quarter, Industrial segment sales of $2.5 billion were down 6.3 percent in U.S. dollars.
Safety and Graphic segment sales of $1.3 billion were down 5.3 percent in U.S. dollars.
“The fourth quarter capped off a year of disciplined execution from our global team with solid margin and cash flow performance,” said Inge G. Thulin, 3M’s chairman, president and chief executive officer. “Throughout 2015 we controlled the controllable, while investing in the business and also returning significant cash to shareholders.
“2015 was an important year as we prepared and positioned our company for long-term success,” Thulin continued. “We strengthened and focused our portfolio, made significant investments in the business to support growth, and made good progress in moving toward a more efficient business model through business transformation and our corporate restructuring. We are building an even stronger and more competitive company for 2016 and beyond.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
