3M saw sales decline 2.6% in the 2019 second quarter, to $8.2 billion.
3M recently announced its financial results for the second quarter of 2019. Sales declined 2.6% in the 2019 second quarter, to $8.2 billion. Organic local-currency sales decreased 0.9%, while acquisitions (net of divestitures) increased sales by 0.1%. Foreign currency translation decreased sales by 1.8% compared to the 2018 second quarter.
In the company’s Health Care segment, total sales grew 5.8% in the second quarter of 2019 to reach $1.8 billion. 3M’s other segments all saw declines, including Consumer, 0.5% to $1.3 billion; Transportation and Electronics, 2.9% to $2.5 billion; and Safety and Industrial, 9% to $3 billion. Organic local-currency sales increased 3.5% in Health Care and 0.7% in Consumer, with declines of 1.2% in Transportation and Electronics, and 5% in Safety and Industrial.