3M sales up 0.1 percent in 2020
3M reported 2020 sales of $32.2 billion, up 0.1 percent from $32.1 billion the prior year.
Net income of $5.4 billion, or $9.25 per share, compared to $4.6 billion, or $7.81, in 2019
For the fourth quarter, sales of $8.6 billion increased 5.8 percent from $8.1 billion in the fourth quarter of 2019. Net income of $1.4 billion, or $2.38 per share, improved from $969 million, or $1.66, in the 2019 fourth quarter.
Safety & Industrial segment sales of $3.1 billion in the fourth quarter were up 12.7 percent in U.S. dollars. Sales increased in personal safety, roofing granules, industrial adhesives and tapes, and electrical markets; sales declined in automotive aftermarket, abrasives, and closure and masking.
"Throughout 2020 we distributed two billion respirators globally and supported the development and manufacturing of vaccines and therapeutics to help the world respond to COVID-19," said Mike Roman, 3M chairman and chief executive officer. "We also took significant actions to transform and build 3M for the future, while advancing our core values. Moving forward we will continue to prioritize investments in growth, productivity and sustainability as we build on our progress and deliver strong results in 2021."
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.
