Despite Flat Sales, 3M Sees 8.6% Earnings Increase in Third Quarter
3M recently reported record third quarter net income of $1.2 billion. Earnings increased 8.6% vs. the same period last year. Operating income was $1.7 billion and operating income margins for the quarter were 22.4%. Sales were $7.5 billion, down 0.4% year over year.
“The 3M team delivered another strong operating performance in the third quarter,” said Inge G. Thulin, chairman, president and CEO. “In the face of the current slow-growth economy, our businesses continued to grow organically and generated record profitability. All six of our businesses posted 21%-plus operating margins in the quarter, so we continue to execute well in 2012.”
For additional information, visit www.3m.com.