3M recently reported fourth quarter earnings of $1.62 per share, an increase of 14.9% compared to the fourth quarter of 2012. Sales grew 2.4% year-on-year to $7.6 billion. Operating income was $1.6 billion and operating income margins for the quarter were 20.9%. Fourth quarter net income was $1.1 billion, and the company reportedly converted 131% of net income to free cash flow.
Full-year 2013 earnings were $6.72 per share, an increase of 6.3%. Sales increased 3.2% to $30.9 billion. Acquisitions added 1.4% to sales, and foreign currency reduced sales by 1.6%.