logo
Plus   Neg
Share
Email

3M May Total Sales Down 20% - Quick Facts

3M Co. (MMM) reported that its total sales for the month of May 2020 declined 20 percent year-on-year to $2.2 billion.

Organic local-currency sales declined 21 percent while acquisitions, net of divestitures, increased sales by 2 percent. Foreign currency translation reduced sales by 1 percent year-on-year.

Total sales declined 11 percent in Health Care, 12 percent in Consumer, 17 percent in Safety and Industrial, and 30 percent in Transportation and Electronics.

Organic local-currency sales declined 11 percent in Consumer, 15 percent in Safety and Industrial, 22 percent in Health Care, and 28 percent in Transportation and Electronics.

On a geographic basis, total sales declined 15 percent in Asia Pacific, 21 percent in the Americas, and 26 percent in EMEA or Europe, Middle East and Africa. Organic local-currency sales declined 15 percent in Asia Pacific, the Americas declined 24 percent (including the U.S. down 22 percent), and EMEA declined 25 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Elon Musk, chief executive of electric car maker Tesla, said its own battery cells, which are under development now, will not reach high-volume production until 2022. This delay can affect the Cybertruck, Semi, and Roadster programs. He also said the company intends to increase battery cell purchases from partners Panasonic, LG & CATL, and possibly other partners. U.S. Court grants Tiffany's motion to expedite lawsuit against LVMH Moët Hennessy-Louis Vuitton. However, the court has not agreed to Tiffany request for trial before November 24. Biotech company Illumina agreed to buy healthcare company GRAIL, Inc. in a cash and stock deal valued at $8 billion. This includes $3.5 billion in cash and $4.5 billion in shares of Illumina common stock. GRAIL focuses on multi-cancer early detection from blood. It is in the process of developing the technology and providing clinical data required to launch the Galleri multi-cancer screening test.
Follow RTT