04.26.18
3M reported first-quarter 2018 results. Sales were up 7.7% to $8.3 billion. Organic local-currency sales increased 2.8% while acquisitions, net of divestitures, increased sales by 0.7%. Foreign currency translation increased sales by 4.2% year-on-year.
Total sales grew 15.0% in Safety and Graphics, 7.1% in Industrial, 7.1% in Health Care, 5.0% in Consumer, and 4.6% in Electronics and Energy. Organic local-currency sales increased 6.9% in Safety and Graphics, 2.7% in Health Care, 2.2% in Industrial, 2.1% in Consumer, and 1.7% in Electronics and Energy.
“Coming off a strong 2017, our team opened the new year with broad-based organic growth of three%, with positive growth across all business groups,” said Inge G. Thulin, 3M chairman, president and CEO. “We also continued to invest in our commercialization capabilities, while returning significant cash to our shareholders – including a 16% dividend increase.”
First-quarter GAAP earnings were $0.98 per share, a decrease of 55% versus the first quarter of 2017. First-quarter operating income was $1.0 billion with operating margins of 12.2%.
Total sales grew 15.0% in Safety and Graphics, 7.1% in Industrial, 7.1% in Health Care, 5.0% in Consumer, and 4.6% in Electronics and Energy. Organic local-currency sales increased 6.9% in Safety and Graphics, 2.7% in Health Care, 2.2% in Industrial, 2.1% in Consumer, and 1.7% in Electronics and Energy.
“Coming off a strong 2017, our team opened the new year with broad-based organic growth of three%, with positive growth across all business groups,” said Inge G. Thulin, 3M chairman, president and CEO. “We also continued to invest in our commercialization capabilities, while returning significant cash to our shareholders – including a 16% dividend increase.”
First-quarter GAAP earnings were $0.98 per share, a decrease of 55% versus the first quarter of 2017. First-quarter operating income was $1.0 billion with operating margins of 12.2%.