Posted October 27, 2020

3M sales grew by 4.5 percent

3M reported third-quarter sales of $8.4 billion, up 4.5 percent year-on-year.

Net income of $1.4 billion, or $2.45 per share, declined from $1.6 billion, or $2.75 per share, in the same period last year.

Total sales grew 25.5 percent year-on-year in Health Care, 6.9 percent in Safety and Industrial, and 5.6 percent in Consumer, with a decline of 7.4 percent in Transportation and Electronics.

Safety and Industrial sales were $3.0 billion, reflecting an increase in personal safety, roofing granules, and automotive aftermarket; while sales declined in electrical markets, industrial adhesives and tapes, closure and masking systems, and abrasives.