3M publishes third-quarter financial results

3M has posted its financial results for the third quarter of the year, revealing earnings of $1.35 (83p) per share on sales of $6.2 billion, as well as operating income margins of 23.9 per cent.

Net income for the period stands at $971 million and earnings are reported to be $1.37 per share, marking decreases of 2.8 per cent and 3.5 per cent respectively year-on-year.

The firm revealed that its healthcare and display and graphics businesses both delivered double-digit year-on-year profit growth.

George Buckley, chairman, president and chief executive officer of the organisation, stated: “These results reflect the strength of 3M’s business model as we again delivered higher than expected sales, strong operating margins and outstanding free cash flow.”

In August, 3M revealed that it plans to invest millions of pounds into its site in Aycliffe, County Durham, in order to meet a surge in demand for its maintenance-free respirators.