3M posts record sales, earnings
3M, the conglomerate with operations in the consumer products and safety/security sectors, has posted record sales and earnings in the second quarter.
Earnings for the second quarter were $917 million, up 4 percent from $882 million last year. Sales rose 8 percent to $6.14 billion from $5.68 billion last year.
"Our strategy of accelerating top-line growth while maintaining exceptional returns remains on track, evidenced by record-breaking results in the second quarter," said George Buckley, 3M chairman, president and CEO. "The strength of 3M's portfolio was evident in the second quarter as our growth spanned the entire company."
In the company’s consumer and office products division, sales rose 8.2 percent to $832 million, with the strongest growth in the company’s DIY, office supplies and home care businesses. Sales in 3M’s safety and security division rose 20.7 percent to $799 million, with strong growth in security systems, protective window films and corrosion protection products, among others.
St. Paul, Minn.-based 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti.