The company reported good cash flow and a strong increase in EPS.
3M recently reported its results for the 2021 fourth quarter and full year. Full-year 2021 sales increased 9.9% percent compared to the prior year, to $35.4 billion. Organic local currency sales increased 8.8%, while acquisitions, net of divestitures, decreased sales by 0.5%. Foreign currency translation increased sales by 1.6% compared to 2020.
“Throughout 2021 we performed well, delivering full-year sales growth of 10 percent, robust cash flow and a strong increase in EPS,” said Mike Roman, chairman and CEO. “We also returned significant cash to shareholders, reduced debt and helped the world respond to COVID-19. As we continue to actively manage our portfolio and improve our operations, we will prioritize investments in fast-growing end markets to drive long-term growth, as well as advance our commitment to sustainability. As we enter 2022, I am confident we will continue to grow our business and find new ways to apply science to improve lives.”