Health Care Sales Surge for 3M in 2020 Third Quarter
In the third quarter of 2020, 3M’s total sales grew 25.5% in Health Care, 6.9% in Safety and Industrial, and 5.6% in Consumer; the Transportation and Electronics segment saw sales decline by 7.4%.
3M recently reported that its sales grew 4.5% in the 2020 third quarter compared to the 2019 quarter, to $8.4 billion. Organic local-currency sales grew 0.9%, while acquisitions (net of divestitures) increased sales by 3%. Foreign currency translation increased sales by 0.6% year-on-year.
Compared to the 2019 third quarter, total sales grew 25.5% in Health Care, 6.9% in Safety and Industrial, and 5.6% in Consumer. Transportation and Electronics saw sales decline by 7.4%. Organic local-currency sales increased 8.1% year-on-year in Health Care, 6.9% in Safety and Industrial, and 5.5% in Consumer while declining 7.1% in Transportation and Electronics.