3M Results 27/07/2017

3M announced its FY17 Q2 result with revenue of $7.8 billion and operating profit of $2.2 billion, resulting in operating margin of 28%. The revenue increased by 1.9% on a yearly basis while the operating margin was up by 3.6%. The net income for the quarter was $1.6 billion, which was up by a significant 22.6% on yearly basis. It also reported GAAP EPS of $2.58, which was up by 24% on yearly basis.

The company announced that FY17 Q2 was a quarter of strong and broad-based organic growth, which included positive growth across all five of its business groups. 3M also updated its guidance for full 2017 as the company now forecasts organic local-currency sales growth to be 3%-5%, up from previous guidance of 2%-5%.