1/25, 12:31 PM (Source: TeleTrader)
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3M's sales up 0.3% to $8.6B in Q4

3M Company said on Tuesday that its sales in the fourth quarter of 2021 amounted to $8.6 billion, increasing 0.3% from the same period in 2020 and coming in slightly above estimates.

Diluted earnings per share (EPS) fell 4% year on year to $2.31 and net income stood at $1.3 billion. For the full year 2021, 3M's sales climbed 9.9% to $35.4 billion and GAAP EPS jumped 8% to $10.12.

"3M delivered a solid fourth-quarter performance – with notable strength in December – as we maintained our relentless focus on serving customers in a challenging external environment," CEO Mike Roman stated. "Our team effectively managed supply chain disruptions, made good progress on pricing actions and controlled costs," he added.

3M added 0.68% in premarket trading after the better-than-expected results were released.

Baha Breaking News (BBN) / NP