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3M posts first quarter sales of $7.4 billion and GAAP EPS of $2.05.
May 1, 2016
By: DAVID SAVASTANO
Editor, Ink World Magazine
3M reported first-quarter earnings of $2.05 per share, an increase of 10.8% versus the first quarter of 2015. Sales declined 2.2% year-on-year to $7.4 billion. Organic local-currency sales declined 0.8% while acquisitions, net of divestitures, added 1.6% to sales. Foreign currency translation reduced sales by 3.0% year-on-year. Operating income was $1.8 billion and operating income margins for the quarter were 24.1%, up 1.3 percentage points year-on-year. First-quarter net income was $1.3 bil...
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