Posted July 25, 2017

3M sales up 1.9 percent

3M reported sales of $7.8 billion for its second quarter, up 1.9 percent, with positive growth across all five business groups.

Total sales grew 7.5 percent in Electronics and Energy, 2.5 percent in Industrial, 1.8 percent in Health Care, and 0.5 percent in Consumer; total sales declined 0.9 percent in Safety and Graphics. Organic local-currency sales increased 8.4 percent in Electronics and Energy, 3.8 percent in Industrial, 3.2 percent in Safety and Graphics, 2.5 percent in Health Care, and 0.7 percent in Consumer.

Second-quarter net income was $1.6 billion, up 22.6 percent from $1.3 billion in the same period last year. Earnings of $2.58 per share increased 24.0 percent versus the second quarter of 2016 per share earnings of $2.08.

Industrial segment sales of $2.7 billion were up 2.5 percent in U.S. dollars, led by advanced materials, automotive and aerospace solutions, and industrial adhesives and tapes; separation and purification sciences declined.

Safety and Graphics segment sales of $1.5 billion were down 0.9 percent in U.S. dollars.
Sales increased in personal safety, were flat in commercial solutions, and declined in transportation safety and roofing granules.