Dow 30 Component 3M (MMM) Beats Q3 Analysts’ Estimates
3M is a global science company that never stops inventing. Using 46 technology platforms, their integrated team of scientists and researchers works with customers to create breakthroughs. Their inventions have improved daily life for hundreds of millions of people all over the world. With $30 billion in sales, their 90,000 employees connect with customers all around the world. Scientists, researchers and marketers work across countries and across subjects to solve challenges big and small.
A Dow 30 component and Minneapolis, MN based, 3M (MMM) reported Q3 earnings of $2.33 per share, an increase of 8.4% vs. Q3 of 2016. Sales were $8.2B up 6% YOY in dollar terms. Organic local-currency sales increased 6.6% while divestitures reduced sales by 1.2%. Foreign currency translation increased sales by 0.6 % YOY. Q3 operating income was $2B and operating income margin was 25%, up .3 percentage points YOY.
“Coming off a strong first half, our team delivered an even more robust performance in the third quarter – marked by an eight percent increase in earnings per share, and seven percent organic growth that was positive across all business groups and geographic areas,” said Inge G. Thulin, 3M’s chairman, president and chief executive officer. “We also expanded margins to 25 percent, while investing for the future and returning significant cash to our shareholders.”
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