3M Sales Rise 7% in Second Quarter 2018
Sales were reportedly up 7.4% to $8.4 billion.
3M recently reported its second-quarter 2018 results. Sales were reportedly up 7.4% to $8.4 billion. Total sales grew 15.8% in safety and graphics, 6.8% in industrial, 4.9% in health care, 4.6% in consumer, and 3.6% in electronics and energy. Organic local-currency sales increased 8.5% in safety and graphics, 5.7% in industrial, 5.2% percent in electronics and energy, 4.3% in consumer, and 3.8% in health care.
On a geographic basis, total sales grew 9.5% in EMEA (Europe, Middle East and Africa), 7.9% in Asia-Pacific, 7.1% in the U.S., and 3.1% in Latin America/Canada.
“3M had a strong quarter, including organic growth of 6% that was broad-based across all business groups and geographic areas,” said Mike Roman, CEO. “Our team delivered record sales and a double-digit increase in earnings per share, while keeping our commitment to investing in our business and returning cash to shareholders.
“Going forward we will continue to prioritize 3M’s portfolio, strengthen our innovation capabilities and accelerate our transformation, while developing our people. The 3M Playbook is working and we’re just getting started. We are well positioned to deliver even greater value for our customers and shareholders in 2018 and beyond.”
For more information, visit www.3m.com.