3M (St. Paul, Minn.) reported a 20% decline in sales in May year-over-year.
The company’s reported sales for the month dropped to $2.2 billion. Sales for 3M’s Safety and Industrial segment, which includes abrasives and respirators, declined 17% during the month, and its Health Care, Consumer and Transportation and Electronics segments declined 11%, 12% and 30%, respectively. Its overall sales in the U.S. alone declined 22%.
The company stated its sales report was negatively impacted by having two fewer business days than its May 2019 sales report.
3M’s sales for the first quarter of 2020 increased 2.7% year-over-year.
The company will hold its second quarter 2020 earnings conference call July 28.
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