3M Profits Grow 17 Percent, Sales Up 7.4 Percent in Q2

3M (Saint Paul, Minn.) increased its net income by 17 percent in the second quarter of 2018 compared with 2017, growing from $1.58 billion to $1.85 billion.

The company also announced record net sales during the quarter, growing 7.4 percent compared with 2017 to $8.4 billion.

“3M had a strong quarter, including organic growth of 6 percent that was broad-based across all business groups and geographic areas,” CEO Mike Roman said in a statement.

Q2 2018 earnings included a $0.48 per share benefit from divestiture gain, up from 2017’s $0.33 per share benefit.

“Going forward we will continue to prioritize 3M’s portfolio, strengthen our innovation capabilities and accelerate our transformation, while developing our people,” Roman said. “The 3M Playbook is working, and we’re just getting started.”