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Mar 31, 2020
3M Q1 2020 Earnings Report
3M reported first-quarter results with sales up and strong growth in personal safety.
Key Takeaways
3M reported a sales increase of 2.7% to $8.1 billion. The company experienced strong growth in personal safety, home improvement, general cleaning, food safety and biopharma filtration. GAAP earnings were $2.22 per share, up 47% year-on-year.
Sales were up 2.7 percent year-on-year to $8.1 billion.
Organic local-currency sales grew 0.3 percent.
First-quarter GAAP earnings were $2.22 per share, an increase of 47 percent year-on-year.
The company paid $847 million in cash dividends to shareholders and repurchased $365 million of its own shares during the quarter.
Forward Guidance
Due to the evolving and uncertain impact of the COVID-19 pandemic, 3M currently is not able to estimate the full duration, magnitude and pace of recovery across its diverse end markets with reasonable accuracy. Therefore, 3M believes it is prudent to withdraw its previously communicated full-year 2020 outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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