IHS Chemical Week

3M Posts Record Sales Despite Headwinds

12:18 PM MDT | July 26, 2011

3M reported second-quarter net income of $1.2 billion, up 9% from the same period last year, on sales up 14%, to $7.7 billion. Results were boosted by higher volumes and selling prices, additional revenue from acquisitions, and favorable foreign currency exchange rates. 3M’s industrial and transportation segment posted operating income of $544 million, up 17% from the year-ago quarter. “We posted record second-quarter sales and earnings per share and generated significant free cash flow in the quarter, and we did so in the face of some sizable headwinds,”...

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