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3M Posts Record Sales

|Includes:3M Company (MMM)

Originally published at

Filing in Focus: 3M 8-K, April 24, 2014

3M Company (NYSE:MMM) announced its first quarter financial results for the fiscal year 2014, posting record quarterly sales. Net income improved from $1.13B and $1.61 per share in the year-ago quarter to $1.21B and $1.79 per share. Cash dividends paid to shareholders during the quarter rose from $0.635 per share to $0.855 per share. 3M's largest segment, Industrial, saw steady sales growth of 3.1% at $2.8B, with Safety and Graphics up 1.7% at $1.4B, Health Care up 4.8% at $1.4B, Electronics and Energy up 2.7% to $1.3B, and Consumer down 0.2% to $1.1B. Chairman, President, and CEO Inge Thulin remarked that the quarter was solid for the company, with strong organic growth and increased investment in research and development.

Stocks: MMM