Industry News

3M Posts Record Sales, EPS for Both 4Q, Full Year 2013

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By: Bridget Klebaur

Director of Performance + Engagement / Chief Performance Officer, Office of the Commissioner, NYC Department of Design and Construction

3M reported fourth-quarter earnings of $1.62 per share, an increase of 14.9% versus the fourth quarter of 2012. Sales grew 2.4% year-on-year to $7.6 billion. Organic local-currency sales grew 3.4%, acquisitions added 0.7% to sales and currency impacts reduced sales by 1.7% year-on-year. Sales and per-share earnings were the highest of any fourth quarter in 3M’s history. Operating income was $1.6 billion and operating income margins for the quarter were 20.9%. Fourth-quarter net income was $1.1 ...

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