3M Q3 2020 Earnings Report
Key Takeaways
3M reported Q3 2020 results with sales growing 4.5 percent year-on-year to $8.4 billion. Organic local-currency sales grew 0.9 percent. Both GAAP and adjusted earnings were $2.43 per share. Operating income was $1.9 billion with operating margins of 22.9 percent. The company’s operating cash flow was $2.5 billion with adjusted free cash flow of $2.2 billion.
Returned to positive organic sales growth with sequential improvement across businesses and geographies.
Posted another quarter of robust cash flow.
Aggressively managed costs and further strengthened balance sheet.
Continue to take actions to transform 3M and position to deliver strong results as end markets recover.
3M
3M
Forward Guidance
Due to the continued evolving and uncertain impact of the COVID-19 pandemic, 3M is not able to estimate the full duration, magnitude and pace of recovery across its diverse end markets with reasonable accuracy. Therefore, 3M continues to believe it is prudent to not provide guidance.