3M Q2 2022 Earnings Report
Key Takeaways
3M reported second-quarter 2022 results with adjusted earnings per share of $2.48. Sales were $8.7 billion, down 3 percent year-on-year. The company updated its adjusted full-year expectations largely due to the strength of the U.S. dollar and uncertain macroeconomic environment.
Aearo Technologies takes action to efficiently and equitably resolve litigation related to Combat Arms Earplugs resulting in a pre-tax charge of $1.2 billion, or $1.66 per share; Company reports GAAP earnings per share of $0.14, including impact of Special Items.
Adjusted earnings per share of $2.48 in midst of continued uncertain macroeconomic environment.
Sales of $8.7 billion, down 3 percent year-on-year, which included a negative 4 percentage point impact from foreign currency translation due to strength of U.S. dollar.
Organic sales growth of 1 percent year-on-year which included a 4 percentage point headwind from the combined impact of China COVID-related lockdowns and decline in disposable respirator demand.
3M
3M
3M Revenue by Segment
Forward Guidance
3M updated its full-year sales and earnings expectations to reflect the impact of the strong U.S. dollar along with the current uncertain macroeconomic environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income