3M Sales Increase Nearly 25% in 2021 Second Quarter
Based on a strong first half of the year, 3M now expects reported total sales growth of 7-10% for the full year.
3M recently reported results for the second quarter of 2021 and updated its 2021 full-year outlook. Sales grew 24.7% year-on-year to $8.9 billion in the second quarter. Organic local-currency sales increased 21.4%, while divestitures decreased sales by 0.7%. Foreign currency translation increased sales by 4% compared to the 2020 second quarter.
Total sales grew 28.1% in Transportation and Electronics, 24.9% in Health Care, 22.4% in Safety and Industrial, and 20.4% in Consumer. Organic local-currency sales increased 24.2% in Transportation and Electronics, 23.2% in Health Care, 17.8% in Consumer, and 17.6% in Safety and Industrial.