3M has reported third-quarter 2021 results. Highlights of the results are as follows:
- Sales of $8.9 billion, up 7.1% year-on-year
- Organic local-currency sales increased 6.3% year-on-year
- Earnings per share of $2.45
- Operating cash flow of $1.9 billion; adjusted free cash flow of $1.5 billion, down 29% year-on-year
- Returned $1.4 billion to shareholders via dividends and gross share repurchases
- Company updates full-year 2021 outlook
“In the face of continued global challenges, the 3M team executed well and delivered broad-based organic growth, along with strong margins and cash flow,” said 3M chairman and chief executive officer Mike Roman. “Overall, end-market demand remained strong, and we navigated supply chain disruptions by maintaining a relentless focus on serving and innovating for our customers. Moving ahead, we will continue to invest for the future by investing in strong demand areas aligned with global trends, while improving our operational performance, driving productivity and advancing sustainability.”
Results for the Consumer Segment
- Sales of $1.5 billion, up 8.1% in U.S. dollars. Organic local-currency sales increased 7.6%, and foreign currency translation increased sales by 0.5%.
- On an organic local-currency basis:
- Sales increased in stationery and office, consumer health and safety, home improvement, and home care.
- Sales grew in the Americas and Asia Pacific and declined in EMEA.
- Segment operating income was $332 million, a decrease 3 percent year-on-year; operating margins were 21.7%.
To view the full press release, please click here.
Source: Cision News Wire
