3M (NYSE: MMM), St. Paul, MN, reported sales for the third quarter of $7.9 billion, an increase of 5.6 percent compared to the same period a year ago. Organic local-currency sales grew 5.8 percent. Profit increased 5.9 percent to $1.2 billion.
Organic local-currency sales growth was 8.1 percent in safety and graphics, 6.8 percent in health care, 6.2 percent in industrial, 4.2 percent in consumer and 3.8 in electronics and energy. On a geographic basis, organic local-currency sales grew 10.5 percent in Latin America/Canada, 6.8 percent in Asia Pacific, 4.5 percent in the U.S. and 4.3 percent in EMEA (Europe, Middle East and Africa).
For the first nine months sales were $23.3 billion, an increase of 3.5 percent compared to the same period a year ago. Profit increased 3 percent to $3.6 billion.