3M Expects 4Q Sales Rising to $8.2 Billion to $8.4 Billion
14 December 2020 - 11:24PM
Dow Jones News
By Dave Sebastian
3M Co. said it expects sales in the final quarter of $8.2
billion to $8.4 billion, or a roughly 1.1% to 3.6% increase from
the same period last year, as the industrial conglomerate has
experienced unprecedented demand for its N95 face masks this
year.
The St. Paul, Minn., company on Monday said quarterly sales
through November were $5.7 billion. The expectations came after the
company earlier this month said it would cut 2,900 jobs to reflect
slumping demand for some of its products apart from
personal-protective gear, such as office supplies, industrial
products and other goods.
Sales rose 8% for November to $2.9 billion, 3M said. Including
comparable volume effects and selling-price changes, local-currency
sales rose 7%, while divestitures dented sales by 1% and
foreign-currency translation increased sales by 2%, it added.
November sales in the safety and industrial as well as consumer
segments rose 16%, while those in the health-care segment grew 5%.
Transportation and electronic sales rose 3%.
In Europe, Middle East and Africa, November sales rose 10%. They
increased 9% in the Americas and 5% in Asia Pacific, 3M said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
December 14, 2020 07:09 ET (12:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
3M (NYSE:MMM)
Historical Stock Chart
From Apr 2024 to May 2024
3M (NYSE:MMM)
Historical Stock Chart
From May 2023 to May 2024