3M Reported It Faces Sluggish Global Economic Growth

By John Heerdink LinkedIn

3M (MMM) reported its quarterly profit had dropped by 39.3% and believes that it was a result of sluggish global economic growth. Net income a year earlier was reported to be $1.86 billion at $3.07 per share which dropped down to $1.13 billion or $1.92 per share for the quarter ending June 30, this year. Net sales reduced by 2.6% to $8.2 billion. The Multinational U.S conglomerate expanded sales in the United States by 2% but failed in major markets including Asia.

“Our execution was strong in the face of continued slow growth conditions in key end markets, as we effectively managed costs and improved cash flow,” stated Chief Executive Officer Mike Roman.

3M (MMM) is a global science company that seems to never stop inventing. Using 46 technology platforms, their integrated team of scientists and researchers works with customers to create breakthroughs. Their inventions have improved daily life for hundreds of millions of people all over the world. With $30 billion in sales, their 90,000 employees connect with customers all around the world. Scientists, researchers, and marketers work across countries and across subjects to solve challenges big and small. To learn more about 3M (MMM) and to track its ongoing progress please visit the  Vista Partners 3M (MMM), Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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june 26 (2)

3M profit slides 39%, reiterates 2019 profit outlook

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finance.yahoo.com

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