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3M Reports $8B in 1st-Quarter Sales

3M has reported fiscal-first-quarter sales of US$8 billion, a 0.3% dip in sales from one year ago.

Sales in the company’s health care division increased 0.3% to $2.01 billion and its consumer division saw a 3.9% decrease in sales to $1.14 billion. 3M’s safety and industrial division reported sales of $2.73 billion, a decline of 1.7%, while sales in the company’s transportation and electronics division increased 6.7% to $1.82 billion.

“We delivered results that were better than our expectations as we returned to organic growth and achieved double digit adjusted earnings growth,” said Mike Roman, 3M CEO. “We improved performance in our businesses through strong operational execution, completed the spin-off of Solventum, and finalized two major legal settlements. The progress we have made in executing our strategic priorities, positions the company for long-term shareholder value creation as Bill Brown assumes the role of 3M CEO.”

About 3M
With global sales of US$32.7 billion, 3M is a leading producer of thousands of products ranging from chemicals, filtration systems, and safety and protection equipment to office, graphics, and healthcare equipment. For more information, visit 3M.com.