3M: limited fall in Q3 earnings

(CercleFinance.com) - The conglomerate 3M has reported a 5.
8% decline in adjusted EPS to 2.43 dollars for Q3, albeit exceeding expectations, along with adjusted operating profit of 1.9 billion dollars, representing an operating margin of 22.9%.

Revenues grew by 4.5% to 8.4 billion dollars (+0.9% organically and in local currencies), driven in particular by the healthcare division (+25.5%) against the backdrop of the Covid-19 pandemic.

Uncertainties surrounding the health crisis also mean that 3M is still not providing targets for 2020, although it estimates that its October sales remained stable or increased in a low single-digit range.


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