3M Reports Sales Up 6% Year Over Year, Stocks Go Up

From CBS Minnesota:

August 13, 2020

MINNEAPOLIS (WCCO) — Minnesota-based 3M is reporting some positive news Thursday morning, saying that sales in July 2020 represented a 6% increase year-over-year.

The $2.8 billion in sales reported were driven in part by organic local-currency sales, which went up 3%. The other component of the increase was attributed to acquisitions.

“Total sales increased 29 percent in Health Care, 9 percent in Consumer, and 6 percent in Safety and Industrial, while Transportation and Electronics declined 7 percent. Organic local-currency sales increased 11 percent in Health Care, 9 percent in Consumer, and 8 percent in Safety and Industrial, while Transportation and Electronics declined 6 percent,” the company reported.

Read more at CBS Minnesota