3M Company Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 27, 2021 at 04:00 pm IST
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3M Company announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 8,950 million compared to USD 7,176 million a year ago. Operating income was USD 1,971 million compared to USD 1,740 million a year ago. Net income was USD 1,524 million compared to USD 1,306 million a year ago. Basic earnings per share from continuing operations was USD 2.62 compared to USD 2.26 a year ago. Diluted earnings per share from continuing operations was USD 2.59 compared to USD 2.25 a year ago. For the half year, sales was USD 17,801 million compared to USD 15,251 million a year ago. Operating income was USD 3,965 million compared to USD 3,403 million a year ago. Net income was USD 3,148 million compared to USD 2,614 million a year ago. Basic earnings per share from continuing operations was USD 5.42 compared to USD 4.53 a year ago. Diluted earnings per share from continuing operations was USD 5.36 compared to USD 4.5 a year ago.
3M Company is an industrial group organized around four product families:
- industrial products, safety and graphics materials (33.5% of net sales including intra-group): abrasive products, adhesives, cleaners, air and liquid filtration systems, anti-slip coating products, fire protection systems, road signage products, etc. The group also provides display equipment and graphics systems;
- electronics and energy products (26%): interconnection products, connectors, optical components, etc.;
- healthcare products (25.1%): orthopedic, chirurgical and respiratory materials, feminine hygiene products, dental products, etc.;
- consumer goods (15.4%): adhesive tape, self-adhesive papers, filters, projectors, screen supports, etc.
Net sales are distributed geographically as follows: Americas (56.2%), Asia/Pacific (25.9%), and Europe/Middle East/Africa (17.9%).