3M (NYSE:MMM) reported a Q2 profit of $1.27B, or $1.91 per share, up from $1.20B, or $1.71 a share Y/Y. Operating income improved across all of its segments boosting the 5.8% earnings increase.
Operating income was $1.9B and rose 2.4% in the company's industrial division, 4.1% in health care, 23% in electronics and energy, 7.4% in safety and graphics, and 2.3% in consumer products.
Operating income margins were up 0.8 percentage points Y/Y to 22.8%.
The company converted 103% of the $1.3B in net income to free cash flow during the quarter.
3M paid $556M in cash dividends to shareholders and repurchased $1.4B of its own shares during the quarter.
MMM +1% premarket