3M Third-Quarter Sales Jump 6%
Third quarter operating income was $2 billion and operating income margin was 25%.
3M recently reported third-quarter sales were $8.2 billion, up 6% year-on-year. Third quarter operating income was $2 billion and operating income margin was 25%, up 0.3 percentage points year-on-year.
Total sales reportedly grew 13.1% in electronics and energy, 7.7% in health care, 6.2% in industrial, 2.2% in consumer, and 1.9% in safety and graphics. Organic local-currency sales increased 13.2% in electronics and energy, 6.9% in health hare, 6.1% in industrial, 6% in safety and graphics, and 1.9% in consumer.
On a geographic basis, total sales reportedly grew 10.8% in Asia Pacific, 7.4% in EMEA (Europe, Middle East and Africa), 5.6% in Latin America/Canada, and 2% in the U.S. Organic local-currency sales increased 12.8% in Asia Pacific, 5.3% in Latin America/Canada, 4% in EMEA, and 3.6% in the U.S.
“Coming off a strong first half, our team delivered an even more robust performance in the third quarter – marked by an 8% increase in earnings per share, and 7% organic growth that was positive across all business groups and geographic areas,” said Inge G. Thulin, chairman, president and CEO. “We also expanded margins to 25%, while investing for the future and returning significant cash to our shareholders.”
For more information, visit www.3m.com.