Posted July 25, 2019

3M sales down 2.6 percent

3M reported second quarter sales of $8.2 billion were down 2.6 percent year-on-year.

Organic local-currency sales decreased 0.9 percent while acquisitions, net of divestitures, increased sales by 0.1 percent. Foreign currency translation decreased sales by 1.8 percent year-on-year.

In the Safety and Industrial segment, sales of $3 billion were down by 9 percent. Sales increased in roofing granules and personal safety; declined in industrial adhesives and tapes, electrical markets, abrasives, closure and masking, and automotive aftermarket.

Net income of $1.1 billion, or $1.92 per share, compared to $1.8 billion, or $3.07, in the same period last year.