3M reports that the COVID-19 pandemic impacted its end markets and business operations.
3M recently posted its financial results for the fourth quarter and full-year 2020. The company reports that sales in the fourth quarter grew 5.8% year-on-year to $8.6 billion. Organic local-currency sales increased 5.5%, while acquisitions (net of divestitures) decreased sales by 1.1%. Foreign currency translation increased sales by 1.4% compared to the 2019 fourth quarter.
3M reports its sales grew 0.1% in the year 2020, compared to 2019, to $32.2 billion. Organic local-currency sales decreased 1.7%, while acquisitions (net of divestitures) increased sales by 2.1% percent. Foreign currency translation decreased sales by 0.3% year-on-year.