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3M Company Message Board

  • bluecheese4u bluecheese4u Jan 24, 2013 8:10 AM Flag

    3M Delivers Fourth-Quarter Sales of $7.4 Billion and Earnings of $1.41 per Share;

    3M Delivers Fourth-Quarter Sales of $7.4 Billion and Earnings of $1.41 per Share;
    Company Posts Record Full-Year Sales of $29.9 Billion and Earnings of $6.32 per Share

    ST. PAUL, Minn. – January 24, 2013 − 3M (NYSE: MMM) today reported fourth-quarter earnings
    of $1.41 per share, an increase of 4.4 percent versus the fourth quarter of 2011. Operating income
    was $1.4 billion and operating income margins for the quarter were 19.5 percent. Fourth-quarter net
    income was $1.0 billion and free cash flow was $1.2 billion.
    Sales rose 4.2 percent year-on-year to $7.4 billion, an all-time fourth-quarter record. Organic localcurrency
    sales grew 4.3 percent, acquisitions added 0.9 percent to sales and currency impacts
    reduced sales by 1.0 percent year-on-year.
    Organic local-currency sales growth was 8.7 percent in Consumer and Office, 8.3 percent in
    Display and Graphics, 5.9 percent in Health Care, 3.9 percent in Industrial and Transportation and
    1.8 percent in Electro and Communications; Safety, Security and Protection Services declined 1.7
    percent year-on-year. On a geographic basis, organic local-currency sales grew 9.7 percent in Latin
    America/Canada, 5.8 percent in Asia Pacific, 5.2 percent in the U.S. and declined 1.0 percent in
    EMEA (Europe, Middle East and Africa).
    For the full year 2012, 3M posted record sales of $29.9 billion, up 1.0 percent year-on-year. Organic
    local-currency sales grew 2.6 percent and acquisitions added 0.8 percent to sales. Foreign currency
    translation reduced sales by 2.4 percent year-on-year.
    Four of the company’s six business segments posted full-year organic local-currency growth, led by
    Health Care at 4.7 percent and Industrial and Transportation at 4.5 percent. Latin America/Canada
    was the fastest-growing geographic region in 2012 at 10.9 percent followed by the U.S. at 4.2
    percent.
    Full-year 2012 earnings were $6.32 per share, an increase of 6.0 percent. Operating margins were
    21.7 percent and return on invested capital was 20 percent.
    “Fourth-quarter was a good finish to a successful year for 3M,” said Inge G. Thulin, 3M chairman,
    president and chief executive officer. “Our people executed well in the face of challenging
    macroeconomic conditions and we have built good momentum to innovate and move forward in
    2013.”
    3M affirmed its 2013 full-year performance expectations. The company anticipates 2013 earnings to
    be in the range of $6.70 to $6.95 per share with organic local-currency sales growth of 2 to 5
    percent. 3M also expects free cash flow conversion to be in the range of 90 to 100 percent.
    Fourth-Quarter Business Segment Discussion
    Industrial and Transportation

    mediaDOTcorporate-irDOTnet/media_files/IROL/80/80574/4Q_2012_3M_Earnings_Release_4880595.pdf

    Slides
    mediaDOTcorporate-irDOTnet/media_files/IROL/80/80574/4Q_2012_3M_Earnings_Presentation_4880595.pdf

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MMM
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