3M’s 3Q Sales Increase

Each of 3M’s divisions had strong showings in the third quarter of 2021, with safety and industrial sales up 7.2% over 2020.
3M, Sales, Increase, third quarter, 2021

3M’s third-quarter sales were $8.9 billion, a 7.1% increase compared to the third quarter of 2020. Profit was $1.434 billion, a slight increase compared to the same period the prior year.

Profit for the third quarter of 2020 was $1.430 billion for 3M (NYSE: MMM), based in St. Paul, Minnesota.

Total sales in 3Q 2021 grew 8.1% in consumer, 7.2% in safety and industrial, 5.8% in transportation and electronics and 4.1% in health care.

On a geographic basis, total sales grew 7.9% in the Americas, 6.8%in Asia Pacific, and 5.2% in EMEA (Europe, Middle East and Africa).

“In the face of continued global challenges, the 3M team executed well and delivered broad-based organic growth, along with strong margins and cash flow,” 3M Chairman and CEO Mike Roman said. “Overall, end-market demand remained strong, and we navigated supply chain disruptions by maintaining a relentless focus on serving and innovating for our customers. Moving ahead, we will continue to invest for the future by investing in strong demand areas aligned with global trends, while improving our operational performance, driving productivity and advancing sustainability.”

For the first nine months of 2021, 3M reported sales of $26.7 billion, up 11.7% from the same period a year ago. Profit of $4.58 billion was up 13.4%

Last year, the company’s yearly sales were up 0.1% over 2019.

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