1/26, 12:32 PM (Source: TeleTrader)
more TeleTrader news

3M Q4 revenue at $8.6 billion, up by 5.8% YoY

The 3M Company revealed on Tuesday its revenue in the fourth quarter of 2020 landed at $8.6 billion, up by 5.8% in comparison to the same period last year. Throughout the entire year, the firm's sales stood at $32.2 billion, 0.1% higher than in 2019.

Its diluted earnings per share (EPS) rose by 43.4% from $1.66 in the fourth trimester last year to $2.38 in the same period of 2020. On a calendar-year level, the EPS went up by 18.4% from $7.81 to $9.25. Meanwhile, on an annual level, the company's net income increased by 43.3% to $1.39 billion, while its operating income advanced by 39.5% to $1.849 billion.

"The 3M team delivered a strong fourth quarter with organic growth across all business groups, robust cash flow, and a double-digit increase in earnings per share," 3M Chairman and Chief Executive Officer (CEO) Mike Roman said. "Moving forward we will continue to prioritize investments in growth, productivity, and sustainability as we build on our progress and deliver strong results in 2021."

3M's shares grew by 1.33% in premarket trade following the release of the report.

Breaking the News / JR