The 2020 Mid-Year Economic Update_long

3M Sales Up 3.5% in 2018

Industrial sales fell 0.3 percent in the fourth quarter.

3M (NYSE: MMM), St. Paul, MN, reported sales for 2018 of $32.8 billion, a year-over-year increase of 3.5 percent. Organic local-currency sales increased 3.2 percent. Profit for the diversified manufacturer increased 10.1 percent to $5.3 billion.

For the fourth quarter, sales dropped slightly to $7.9 billion. Organic local-currency sales grew 3 percent. Profit increased to $1.3 billion from $525 million.

On a geographic basis, total sales grew 6.4 percent in EMEA (Europe, Middle East and Africa), sales were down 0.8 percent in Asia Pacific, increased 5 percent in Latin America/Canada, and sales increased 3.3 percent in the U.S. for the quarter. Organic local-currency sales increased 2 percent in Asia Pacific, 1.3 percent in EMEA, 4.4 percent in the U.S. and 5 percent in Latin America/Canada.

Industrial sales in the fourth quarter decreased 0.3 percent to $3 billion in U.S. dollars. Organic local-currency sales grew 2.5 percent. Operating income was $627 million, an increase of 8.1 percent year-on-year.

Safety and graphics sales rose 0.3 percent to $1.6 billion. Organic local-currency sales increased 3.3 percent. Operating income was $345 million, a decrease of 14.8 percent year-on-year.

Health care sales of $1.5 billion were up 2.4 percent in U.S. dollars during the quarter. Organic local-currency sales increased 4.8 percent. Operating income was $458 million, a decrease of 0.2 percent year-on-year.

Electronics and energy sales of $1.3 billion were down 4.5 percent in U.S. dollars. Organic local-currency sales increased 4.1 percent. Operating income was $396 million, an increase of 8.2 percent year-on-year.

Consumer sales of $1.2 billion were up 0.1 percent in U.S. dollars. Organic local-currency sales increased 1.9 percent. Operating income was $257 million, up 8.2 percent year-on-year.

 

 

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By : XYZScripts.com