Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 3M Reports Sales, Earnings - Nonwovens Industry

What are you searching for?

Sign in
Nonwovens News

3M Reports Sales, Earnings

3M's third quarter worldwide sales were $6.9 billion.

Author Image

By: Karen McIntyre

Editor, Nonwovens Industry

0 false 18 pt 18 pt 0 0 false false false /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:”Times New Roman”; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:”Times New Roman”; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin;}

3M has closed its third quarter with an increase in sales and per-share earnings. Sales and per-share earnings increase 11% and 13.3% year-on-year, respectively. Operating income margins exceeded 20% in all six of the company’s business segments for the third consecutive quarter.


Third quarter worldwide sales were $6.9 billion, an increase of 11% compared to the same period last year. Local-currency sales including acquisitions increased 11.1%, while divestitures reduced sales by 0.1%. Foreign exchange rates had no impact on third quarter sales.


“The 3M team posted yet another outstanding quarter, with 11% organic volume growth and 23% margins,” said George Buckley, 3M chairman, president and CEO. “We drove growth throughout the portfolio, with more than 80% of our operating divisions posting year-on-year sales increases. New products are fueling market share gains and filling adjacent spaces everywhere, but particularly in emerging markets, the fastest-growing area of our company.”


In 3M’s Health Care business, sales of $1.1 billion were up 1.6% in local currency. Year-on-year H1N1-related comps reduced sales growth by 2%. Local-currency sales in Latin America/Canada were up 11% and Asia Pacific was up 9%. Local-currency sales were down slightly in the U.S. and Western Europe. Skin and wound care, health information systems, drug delivery and oral care had positive local-currency sales growth. Operating income was $326 million and operating margins were 29.8%.


In the Industrial and Transportation section, sales rose 14.2% year-on-year in local currency. Local-currency sales growth was led by renewable energy, energy and advanced materials, abrasives and auto.


3M reported continued rapid sales growth in Asia Pacific with 25% local-currency growth and double-digit local currency sales growth in Europe and in Latin America/Canada. The company reported operating income improved 14% to $446 million. Operating margins were 20.2%.

Add us as a preferred source on Google

Get the latest Nonwovens Industry news, insights and analysis in your Google Search and AI experiences.

Add Nonwovens Industry as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Nonwovens Industry Newsletters