3M Sales Higher in July, Boosted By Health Care, Consumer Segments
August 13 2020 - 7:17AM
Dow Jones News
By Matt Grossman
3M Co. sales grew 6% year over year last month, driven by higher
sales in the company's health-care and consumer segments.
July sales rose to $2.8 billion. On an organic local-currency
basis, sales were 3% higher. Acquisitions net of divestitures
contributed an additional three percentage points of growth.
Total sales increased 29% in health care, 9% in consumer, and 6%
in safety and industrial, while transportation and electronics fell
7%.
On an organic basis, health-care sales grew 11%, while consumer
sales rose 9% and safety and industrial sales were up 8%.
Transportation and electronics sales declined 6% organically year
over year in the month.
Organic sales were 8% higher in the U.S. and 6% higher in the
Americas overall, and were flat in Europe, the Middle East and
Africa. Asia Pacific sales declined 1% organically, but increased
by 13% in China.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
August 13, 2020 07:02 ET (11:02 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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