3M's Safety & Industrial Sales Rebound in July, Up 6% YoY

Manufacturing conglomerate 3M shared its sales results for the month of July on Thursday, showing improvement in most of its business units, including Safety and Industrial, after across-the-board declines in the company's overall second quarter.

3M said that total July sales of $2.8 billion increased 6 percent year-over-year (YoY), with organic local-currency sales up 3 percent. In comparison, 3M's Q2, ended June 30, saw sales fall 12.2 percent.

By business unit in July:

• Health Care sales increased 29 percent YoY, compared to a 0.4 percent decline in Q2
• Safety and Industrial sales increased 6 percent YoY, compared to a 9.2 percent decline in Q2
• Consumer sales increased 9 percent YoY, compared to a 6.2 percent decline in Q2
• Transportation and Electronics sales declined 7 percent YoY, compared to a 6 percent decline in Q2

On a geographic basis in July:

• Americas total sales increased 10.0 percent YoY, compared to a 12.7 percent decline in Q2. July organic sales increased 6 percent, including up 8 percent in the US.
• Asia Pacific sales were flat YoY, compared to an 8.5 percent decline in Q2. Organic sales were down 1 percent, with China up 13 percent and Japan down 12 percent.
• EMEA sales increased 3 percent YoY, compared to a 16.4 percent decline in Q2. Organic sales were flat.