3M recently reported fourth-quarter and full-year 2017 results conveying that fourth-quarter sales were up 9% to $8 billion. Organic local-currency sales reportedly increased 6% while acquisitions, net of divestitures, increased sales by 0.3%.
Total sales grew 15% in safety and graphics, 12.5% in electronics and energy, 7.3% in consumer, 6.9% in industrial, and 6% in health care. Sales increased 5.1% to $31.7 billion and organic local-currency sales increased 5.2%. The combination of acquisitions and divestitures decreased sales 0.6%. Foreign currency translation increased sales 0.5%, and full-year operating income margins were 24.7%, up 70 basis points vs. 2016.
“3M’s fourth quarter was marked by record sales, expanded margins and robust organic growth across all business groups and geographic areas,” said Inge G. Thulin, chairman, president and CEO. “Our team’s performance capped a successful year for our enterprise. For 2017, we posted organic growth of 5%, along with healthy earnings, cash flow and return on invested capital.
For more information, visit www.3m.com.