Second-Quarter Highlights:
Sales of $8.4 billion, up 7.4 percent year-on-year
Organic local-currency sales growth of 5.6 percent; growth in all business groups and all geographic areas
GAAP EPS of $3.07 vs. $2.58 last year, up 19 percent year-on-year
Q2 2018 earnings includes a $0.48 per share benefit from divestiture gain, net of related restructuring actions
Q2 2017 earnings included a $0.33 per share benefit from divestiture gain, partially offset by portfolio and footprint investments
Returned $2.4 billion to shareholders via dividends and gross share repurchases
Updated 2018 earnings guidance to reflect full-year impact from the recently completed divestiture of the communication markets business, which was not included in prior guidance
“3M had a strong quarter, including organic growth of 6 percent that was broad-based across all business groups and geographic areas,” said Mike Roman, 3M chief executive officer. “Our team delivered record sales and a double-digit increase in earnings per share, while keeping our commitment to investing in our business and returning cash to shareholders.
“Going forward we will continue to prioritize 3M’s portfolio, strengthen our innovation capabilities and accelerate our transformation, while developing our people. The 3M Playbook is working and we’re just getting started. We are well positioned to deliver even greater value for our customers and shareholders in 2018 and beyond.”
3M - 3M Reports Second-Quarter 2018 Results
