3M sales up 4.2 percent
3M reported first quarter sales of $2.7 billion, up 4.2 percent in U.S. dollars.
First-quarter net income was $1.3 billion, up 3.7 percent. Earnings of $2.16 per share increased 5.4 percent versus the first quarter of 2016.
Sales in the Industrial Business Group of $2.7 billion were up 4.2 percent in U.S. dollars.
Sales grew in all businesses, led by automotive and aerospace solutions, advanced materials, abrasives, industrial adhesives and tapes, and automotive aftermarket.
Sales grew in Asia Pacific, the U.S., and EMEA; Latin America/Canada was flat.
Operating income was $625 million, an increase of 0.5 percent year-on-year; operating margin of 23.1 percent.
In the Safety and Graphics Business Group, sales of $1.5 billion, up 3.4 percent in U.S. dollars. Sales grew in all areas, led by EMEA, Asia Pacific and the U.S.
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.
