3M Safety & Industrial Sales Up 6% in August

Sales growth in the Safety & Industrial Unit was flat despite one fewer selling day year-over-year, indicating the market has steadied.

3 Ma

Manufacturing conglomerate 3M shared its sales results for the month of August on Tuesday, showing continued gains after a volatile April-June period.

The St. Paul, MN-based company had total August sales of $2.7 billion, up 2 percent year-over-year (YoY) despite one fewer selling day in August 2020 than a year earlier (which had a -5 percent impact). That's a repeat of July's 6 percent sales gain and compares with a 12.2 percent decline during the second quarter. August organic local currency sales (which includes organic voluem impacts and selling price changes) declined 2 percent, while acquisitions and currency impacts boosted sales by 3 percent and 1 percent, respectively.

3 MasgBy business unit in August:

  • Health Care sales increased 23 percent YoY, compared to a 29 percent increase in July and a 0.4 percent decline in Q2
  • Safety and Industrial sales increased 6 percent YoY, the same as August and compared to a 9.2 percent decline in Q2
  • Consumer sales increased 3 percent YoY, compared to a 9 percent gain in July and a 6.2 percent in Q2
  • Transportation and Electronics sales declined 11 percent YoY, compared to a 7 percent decline in July and a 6 percent decline in Q2

On a geographic YoY basis in August:

  • Americas total sales increased 4 percent, compared to a 10 percent increase in July and a 12.7 percent decline in Q2. Organic sales were flat (up 1 percent in US), compared to up 6 percent in July (up 8 percent in US).
  • Asia Pacific sales were down 2 percent, compared to flat in July and down 8.5 percent in Q2. Organic sales were down 5 percent (China up 6 percent, Japan down 15 percent), compared to down 1 percent in July.
  • EMEA sales increased 7 percent, compared to a 3 percent increase in July and a 16.4 percent decline in Q2. Organic sales were flat, same as in July.

"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," 3M said Tuesday. "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."

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