3M (Saint Paul, Minn.) reported a profit of $1.32 billion in the first quarter of 2017, a 3.1 percent increase compared with a profit of $1.28 billion in the first quarter of 2016.
3M’s sales for the first quarter were $7.69 billion, an increase of 3.8 percent from first quarter 2016 sales of $7.41 billion.
3M’s Industrial business segment sales in the first quarter of 2017 were $2.71 billion, a 4.6 percent increase compared with $2.59 billion in the first quarter of 2016.
“The 3M team delivered a strong start to 2017, marked by organic sales growth of 5 percent—with positive growth in all geographic areas,” said Inge G. Thulin, 3M’s chairman, president and chief executive officer, in a statement. “At the same time, we increased investments across the enterprise to further accelerate growth and improve productivity, while increasing our dividend for the 59th consecutive year.”
