3M recently reported operating income of $1.4 billion and operating income margins for the quarter of 19.5% for the fourth quarter. Fourth quarter net income was $1 billion. Sales rose 4.2% year-on-year to $7.4 billion, reportedly an all-time fourth quarter record. Organic local currency sales grew 4.3%, acquisitions added 0.9% to sales, and currency impacts reduced sales by 1% year-on-year.
For the full 2012 year, 3M posted record sales of $29.9 billion, up 1% year-on-year. Organic local currency sales grew 2.6% and acquisitions added 0.8% to sales. Four of the company’s six business segments posted full-year organic local currency growth, led by Health Care at 4.7% and Industrial and Transportation at 4.5%. Latin America/Canada was the fastest-growing geographic region in 2012 at 10.9%, followed by the U.S. at 4.2%. Full-year 2012 earnings were $6.32 per share, an increase of 6%. Operating margins were 21.7% and return on invested capital was 20%.