Posted October 24, 2017

3M sales climb 6 percent

3M reported third-quarter sales were $8.2 billion, up 6.0 percent year-on-year in dollar terms.

Organic local-currency sales increased 6.6 percent while divestitures reduced sales by 1.2 percent. Foreign currency translation increased sales by 0.6 percent year-on-year.

Third-quarter net income was $1.4 billion, up 7.5 percent. Earnings of $2.33 per share increased 8.4 percent versus the third quarter of 2016. 

Total sales grew 13.1 percent in Electronics and Energy, 7.7 percent in Health Care, 6.2 percent in Industrial, 2.2 percent in Consumer, and 1.9 percent in Safety and Graphics. Organic local-currency sales increased 13.2 percent in Electronics and Energy, 6.9 percent in Health Care, 6.1 percent in Industrial, 6.0 percent in Safety and Graphics, and 1.9 percent in Consumer.

In the Industrial business segment, sales were up 6.2 percent to $2.8 billion. Sales grew in all businesses led by advanced materials, industrial adhesives and tapes, and separation and purification.

In Safety and Graphics, sales increased 1.5 percent to $1.5 billion. Sales increased in personal safety, roofing granules, and transportation safety; commercial solutions declined.