3M Reports Sales Information for Month of August 2020

3M Reports Sales Information for Month of August 2020

Sales of $2.7 billion, up 2 percent year-on-year

August sales negatively impacted by one fewer business day – 21 days this year vs. 22 days last year – or minus 5 percent year-on-year impact

Company provides revenue expectations for third quarter; monthly sales updates to continue through end of 2020

ST. PAUL, MN (STL.News) 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.

NOTE: this is NOT complete release

CLICK to VIEW COMPLETE RELEASE

CLICK to VIEW SOURCE – Published on StateNewsToday.com

About Marty Smith 10908 Articles
Marty Smith is the Editor in Chief and a founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe. Additionally, Smith is responsible for building a network of aggregator sites to manage the content involving thousands of sources.