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3M Reports Coronavirus Crisis Hit Q2 Demand

By John F. Heerdink, Jr.

3M (MMM) released its quarterly revenue recently, reporting a 12% drop in revenue for the quarter ending June 30 as demand for its products dropped due to the global economic slowdown caused by the coronavirus pandemic. Net sales dropped to $7.2 billion from $8.2 billion. Net income increased to $1.29 billion in comparison to $1.13 billion a year earlier. The company earned $1.78 per share in the quarter on an adjusted basis.

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, 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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(Read Original Story: 3M posts 12% fall in revenue as coronavirus crisis hammers demand in Reuters)


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