3M reports strong third quarter results
3M reported third-quarter sales of $6.5 billion, up 3.5% year-on-year with organic sales up 2.6% year-on-year.
"I am very pleased with our teams' focus on reinvigorating organic top-line growth and improving operational performance resulting in another strong quarter," said Chairman and CEO William Brown. "The 3M excellence model helped accelerate organic sales growth, increase margins, grow EPS double-digits and generate robust free cash flow. This progress gives us the confidence to raise our full-year margin and EPS guidance which positions us well to achieve the strategic and financial commitments we made at our Investor Day earlier this year."
Other third-quarter highlights included:
- Adjusted sales of $6.3 billion, up 4.1% year-on-year with adjusted organic sales up 3.2% year-on-year.
- 3M returned $0.9 billion to shareholders via dividends and share repurchases.
- Cash from operations of $1.8 billion.
- Adjusted free cash flow of $1.3 billion.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Applied Industrial Technologies. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
