3M’s November Sales Grow 8% - Modern Distribution Management

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3M’s November Sales Grow 8%

3M reports that sales increased 9% in the Americas and 10% in EMEA (Europe, Middle East and Africa) last month as the company continued its post-pandemic momentum.

3M (NYSE: MMM), St. Paul, Minnesota, reported total sales for November increased 8% year-over-year to $2.9 billion. Organic local-currency sales (which includes organic volume impacts and selling price changes) increased 7% while divestitures decreased sales by 1%. Foreign currency translation increased sales by 2% year-over-year.

Total sales increased 16% in both safety and industrial, and consumer, while health care grew 5%, and transportation and electronics increased 3%. Organic local-currency sales increased 15% in consumer, 14% in safety and industrial, 7% in health care, and 1% in transportation and electronics.

On a geographic basis, total sales increased 10% in EMEA (Europe, Middle East and Africa), 9% in the Americas, and 5% in Asia Pacific. Organic local-currency sales increased 11% in the Americas (the U.S. increased 13%), 7% in EMEA and were flat in Asia Pacific (China increased 13%, and Japan decreased 5%).

Through November, 3M has delivered fourth-quarter to-date total sales of $5.7 billion. Although significant macroeconomic uncertainty remains, with one month left in the quarter the company estimates its sales to be in the range of $8.2 to $8.4 billion for the fourth quarter.

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