3M sales up 7.4 percent
3M reported second-quarter sales were up 7.4 percent to $8.4 billion.
Organic local-currency sales increased 5.6 percent while acquisitions, net of divestitures, increased sales by 0.8 percent. Foreign currency translation increased sales by 1.0 percent year-on-year.
Net income of $1.9 billion, or $3.07 pre diluted share, compared to income of $1.6 billion, or $2.58, in the same period last year.
Total sales grew 15.8 percent in Safety and Graphics, 6.8 percent in Industrial, 4.9 percent in Health Care, 4.6 percent in Consumer, and 3.6 percent in Electronics and Energy. Organic local-currency sales increased 8.5 percent in Safety and Graphics, 5.7 percent in Industrial, 5.2 percent in Electronics and Energy, 4.3 percent in Consumer, and 3.8 percent in Health Care.
In the Industrial segment, sales were $3.1 billion, up 6.8 percent in U.S. dollars. The increase was led by separation and purification, advanced materials, abrasives, and industrial adhesives and tapes.
In the Safety and Graphic segment, the 15.8 percent sales increase to $1.8 billion was led by personal safety, commercial solutions, and transportation safety.
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.
