3M (MMM) sales update for August 2020
While significant global economic uncertainty remains due to the COVID-19 pandemic, the company estimates, with one month left in the quarter, its sales to be in the range of $8.2 to $8.3 billion for the third-quarter. Given the current economic uncertainty, 3M will continue its monthly reporting of sales information through the end of the year to provide transparency on its ongoing business performance. "
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At 3M, we apply science in collaborative ways to improve lives daily. With $32 billion in sales, our 96,000 employees connect with customers all around the world
Safety & IndustrialWith Leading Market Positions In:
Transportation & ElectronicsWith Leading Market Positions In:
Health CareWith Leading Market Positions In:
ConsumerWith Leading Market Positions In:
Safety & IndustrialWith Leading Market Positions In:
- Respiratory, hearing and eye protection solutions
- Building safety solutions
- Structural adhesives and tapes
- Industrial abrasives
- Autobody repair solutions
- Medium voltage cable accessories and insulation tapes
Transportation & ElectronicsWith Leading Market Positions In:
- Display enhancement films, optically-clear adhesives, and electronics assembly solutions
- Attachment tapes, protective films, sound and temperature management for transportation OEM’s
- Auto electrification solutions
- Reflective signage for highway and construction safety
- Premium large format graphic films for advertising and fleet signage
Health CareWith Leading Market Positions In:
- Skin, wound care, and infection prevention
- Dentistry and orthodontia
- Coding and reimbursement software
- Filtration and purification systems
- Drug delivery (inhalation and transdermal systems)
- Food safety indicator solutions
ConsumerWith Leading Market Positions In:
- Retail abrasives and paint accessories
- Car Care DIY
- Consumer air quality solutions
- Stationery products
- Cleaning products for the home
- Consumer bandages, braces, and supports
Press release from 3M releasing August 2020 sales numbers
ST. PAUL, Minn.--(BUSINESS WIRE)-- 3M (NYSE: MMM) today reported sales information for the month of August 2020. Total sales for August increased 2 percent year-on-year to $2.7 billion. Organic local-currency sales (which includes organic volume impacts and selling price changes) declined 2 percent while acquisitions, net of divestitures, and foreign currency translation increased sales year-on-year by 3 percent and 1 percent, respectively.
Total sales increased 23 percent in Health Care, 6 percent in Safety and Industrial, and 3 percent in Consumer, while Transportation and Electronics declined 11 percent. Organic local-currency sales increased 6 percent in Health Care, 5 percent in Safety and Industrial, and 2 percent in Consumer, while Transportation and Electronics declined 11 percent.
On a geographic basis, total sales increased 7 percent in EMEA (Europe, Middle East and Africa), and 4 percent in the Americas, while Asia Pacific declined 2 percent. Organic local-currency sales were flat in both the Americas (including the U.S. up 1 percent) and EMEA, while Asia Pacific declined 5 percent (including China up 6 percent and Japan down 15 percent).
Sales for August 2020 were impacted by one fewer business day – 21 days this year versus 22 days last year – or minus 5 percent year-on-year. Because the company will have one additional business day in September 2020 versus September 2019, there will be no year-on-year business day impact on the third-quarter 2020.
While significant global economic uncertainty remains due to the COVID-19 pandemic, the company estimates, with one month left in the quarter, its sales to be in the range of $8.2 to $8.3 billion for the third-quarter. Given the current economic uncertainty, 3M will continue its monthly reporting of sales information through the end of the year to provide transparency on its ongoing business performance.
Total sales increased 23 percent in Health Care, 6 percent in Safety and Industrial, and 3 percent in Consumer, while Transportation and Electronics declined 11 percent. Organic local-currency sales increased 6 percent in Health Care, 5 percent in Safety and Industrial, and 2 percent in Consumer, while Transportation and Electronics declined 11 percent.
On a geographic basis, total sales increased 7 percent in EMEA (Europe, Middle East and Africa), and 4 percent in the Americas, while Asia Pacific declined 2 percent. Organic local-currency sales were flat in both the Americas (including the U.S. up 1 percent) and EMEA, while Asia Pacific declined 5 percent (including China up 6 percent and Japan down 15 percent).
Sales for August 2020 were impacted by one fewer business day – 21 days this year versus 22 days last year – or minus 5 percent year-on-year. Because the company will have one additional business day in September 2020 versus September 2019, there will be no year-on-year business day impact on the third-quarter 2020.
While significant global economic uncertainty remains due to the COVID-19 pandemic, the company estimates, with one month left in the quarter, its sales to be in the range of $8.2 to $8.3 billion for the third-quarter. Given the current economic uncertainty, 3M will continue its monthly reporting of sales information through the end of the year to provide transparency on its ongoing business performance.
3M (MMM) stock price history over the last 5 years
The image below shows the stock price history of 3M (MMM) over the last 5 years. And its not been a particularly good time for 3M stockholders with the stock price only having increased by 2.2% over the last 5 years.
Next earnings release of 3M (MMM)
It is expected that 3M will release their 3rd 2020 earnings report on 27 October 2020
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