Stronger U.S. Dollar Negatively Impacted 3M’s First Quarter 2015 Sales
3M recently reported first quarter earnings of $1.85 per share, an increase of 3.4% vs. the first quarter of 2014. Sales declined 3.2% year-on-year to $7.6 billion.
Operating income for the quarter was $1.7 billion, and operating income margins for the quarter were 22.8%, up 0.9 percentage points year-on-year. First quarter net income was $1.2 billion, and the company converted 66% of net income to free cash flow.