• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Printed Electronics
    • Raw Materials
    • Equipment
    • Services
    • Suppliers Guide
    • Resources
    • More
  • Magazine
  • News
  • Printed Electronics
  • Raw Materials
  • Equipment
  • Services
  • Suppliers Guide
  • Resources
  • Current & Past Issues
    Features
    Editorials
    Digital Edition
    Subscribe Now
    Advertise Now
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Breaking News
    Experts Opinion
    Financial News
    Manufacturers News
    Mergers and Acquisitions
    Online Exclusives
    Personnel
    Product Releases
    Suppliers News
    Live From Shows
    Displays and Lighting
    Photovoltaics
    Printed Batteries
    Printed Circuit Boards/Membrane Switches/In Mold Electronics
    Flexible and Printed Electronics
    RFID and NFC
    Sensors and Wearables
    Smart Cards and Packaging
    Touch Screens
    Adhesives, Barriers and Encapsulants
    Chemicals, Metals and Powders
    Conductive Inks and Coatings
    Electronic Materials
    Film, Paper, Glass and Substrates
    Graphene, Perovskites and Carbon Nanotubes
    Nanomaterials
    Printed Electronic Components
    Research Reports
    Semiconductors and Quantum Dots
    Energy Curing Equipment
    Lab and Testing Equipment
    Manufacturing Equipment
    Printing Equipment
    3D Printing
    Contract Manufacturing Services
    Product Design and Testing
    Research and Consulting
    Research Institutions
    Research Reports
    Universities
    Equipment
    All Companies
    Materials
    Categories
    Converting
    Printed Electronics Systems
    Associations
    Research and Services
    Used Machinery
    Add New Company
    Industry Events
    Live from show events
    Podcasts
    Videos
    Blogs
    Slideshows
    Infographics
    Webinars
    Whitepapers
    Equipment and Services
    Glossary
    • Magazine
      • Current & Past Issues
      • Features
      • Editorial
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Suppliers Guide
      • Add Your Company
      • Suppliers Guide
    • Printed Electronics
      • Photovoltaics
      • Printed Batteries
      • Printed Circuit Boards/Membrane Switches/In Mold Electronics
      • Flexible and Printed Electronics
      • RFID and NFC
      • Sensors and Wearables
      • Smart Cards and Packaging
      • Touch Screens
    • Raw Materials
      • Adhesives, Barriers and Encapsulants
      • Chemicals, Metals and Powders
      • Conductive Inks and Coatings
      • Electronic Materials
      • Film, Paper, Glass and Substrates
      • Graphene, Perovskites and Carbon Nanotubes
      • Nanomaterials
      • Semiconductors and Quantum Dots
    • Equipment
      • Energy Curing Equipment
      • Lab and Testing Equipment
      • Manufacturing Equipment
      • Printing Equipment
      • 3D Printing
    • Services
      • Contract Manufacturing Services
      • Product Design and Testing
      • Research and Consulting
      • Research Institutions
      • Research Reports
      • Universities
    • Online Exclusives
    • Slideshows
    • Blog
    • Videos
    • Podcasts
    • Infographics
    • Events
      • Industry Events
      • Live from show events
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    3M Reports 2Q 2020 Results

    Operating cash flow of $1.9 billion is up 15% year-on-year; adjusted free cash flow was $1.5 billion, up 18% year-on-year.

    3M Reports 2Q 2020 Results
    Related CONTENT
    • 3M Reports Sales Information for Month of November 2020
    • 3M to Advance Operating Model, Improve Cost Structure, and Accelerate Innovation
    • Flex Appoints Dr. Todd M. Fruchterman as President, Reliability Solutions Segment
    • 3M Finds Trust in Science Soars Amid Global Pandemic
    • 3M Reports Sales Information for August 2020
    Printed Electronics Now Staff08.05.20

    3M reported second-quarter 2020 results.

     

    The COVID-19 pandemic continues to evolve and affect 3M’s businesses in several ways. During the second quarter, end-market demand remained strong in personal safety, home improvement, general cleaning, semiconductor, data center and biopharma filtration.

     

    At the same time, several other end markets continued to experience significant weaknesses including healthcare elective procedures, automotive OEM and aftermarket, general industrial, commercial solutions and office supplies.

     

    Second-quarter sales declined 12.2% year-on-year to $7.2 billion. Organic local-currency sales declined 13.1%, while acquisitions, net of divestitures, increased sales by 2.4%. Foreign currency translation reduced sales by 1.5% year-on-year.

     

    “While our results were significantly impacted by the global economic slowdown, we executed well, managed our costs and delivered another quarter of robust cash flow,” said Mike Roman, 3M chairman and CEO. “We are taking actions to navigate near-term challenges, while relentlessly innovating for our customers and investing for the future to lead out of the slowdown and continue to deliver long-term value for our shareholders.

     

    “Globally across 3M, we continue to fight the pandemic from all angles and help ensure the safety of our employees, healthcare workers and first-responders, and the public,” Roman continued. “I remain incredibly proud of how our team is leading through these unprecedented times, and I thank all 3Mers for their tireless efforts.”

     

    Total sales declined 0.4% in Health Care, 6.2% in Consumer, 9.2% in Safety and Industrial and 20.9% in Transportation and Electronics. Organic local-currency sales decreased by 5% in Consumer, 6.1% in Safety and Industrial, 12.4% in Health Care and 18.9% in Transportation and Electronics.

     

    On a geographic basis, total sales declined 8.5% in Asia Pacific, 12.7% in the Americas and 16.4% in EMEA (Europe, Middle East and Africa). Organic local-currency sales decreased 8.1% in Asia Pacific, 14.5% in EMEA and 15.6% in the Americas.

     

    Second-quarter GAAP earnings were $2.22 per share, an increase of 15.6% year-on-year, with an operating income of $1.7 billion and operating margins of 24.3%.

     

    The company’s operating cash flow was $1.9 billion with an adjusted free cash flow of $1.5 billion contributing to adjusted free cash flow conversion of 149% and strengthened the balance sheet by reducing net debt by $1.7 billion since March 31, 2020.

    Suggested For You
    3M Reports Sales Information for Month of November 2020 3M Reports Sales Information for Month of November 2020
    3M to Advance Operating Model, Improve Cost Structure, and Accelerate Innovation 3M to Advance Operating Model, Improve Cost Structure, and Accelerate Innovation
    Flex Appoints Dr. Todd M. Fruchterman as President, Reliability Solutions Segment Flex Appoints Dr. Todd M. Fruchterman as President, Reliability Solutions Segment
    3M Finds Trust in Science Soars Amid Global Pandemic 3M Finds Trust in Science Soars Amid Global Pandemic
    3M Reports Sales Information for August 2020 3M Reports Sales Information for August 2020
    Around the World with 3M Volunteers Around the World with 3M Volunteers
    3M, Mitsubishi Paper Mills Complete Patent License Agreement for 3M’s Metal Mesh Technology 3M, Mitsubishi Paper Mills Complete Patent License Agreement for 3M’s Metal Mesh Technology
    3M Announces New Leadership Appointment 3M Announces New Leadership Appointment
    3M Reports May 2020 Sales Information 3M Reports May 2020 Sales Information
    3M Appoints Monish Patolawala SVP, CFO 3M Appoints Monish Patolawala SVP, CFO
    3M Reports First-Quarter 2020 Results 3M Reports First-Quarter 2020 Results
    3M Reports Fourth-Quarter, Full-Year 2019 Results 3M Reports Fourth-Quarter, Full-Year 2019 Results
    3M Accelerates Pace of Transformation Journey 3M Accelerates Pace of Transformation Journey
    3M Annual Meeting Highlights 2018 Performance 3M Annual Meeting Highlights 2018 Performance
    3M Announces 100% Global Renewable Electricity Goal 3M Announces 100% Global Renewable Electricity Goal

    Related Breaking News

    • Breaking News | Flexible and Printed Electronics | Research Institutions
      Imec Technology Taking Off to Space

      Imec Technology Taking Off to Space

      Imec will validate three of its technologies in a spaceflight environment. Being compact and sophisticated makes these systems attractive for implementation.
      01.26.21

    • Breaking News | Displays and Lighting
      Osram in Top 25 of World’s 100 Most Sustainable Companies

      Osram in Top 25 of World’s 100 Most Sustainable Companies

      Out of approximately 7,400 worldwide companies, Osram ranks 23rd.
      01.26.21

    • Breaking News | Semiconductors and Quantum Dots
      North American Semiconductor Equipment Industry Posts December 2020 Billings

      North American Semiconductor Equipment Industry Posts December 2020 Billings

      The billings figure is 2.6% higher than the final November 2020 billings of $2.61 billion.
      01.26.21


    • Breaking News | Graphene, Perovskites and Carbon Nanotubes | Research Institutions
      Graphene Flagship Study Predicts Increased Market Penetration by 2025

      Graphene Flagship Study Predicts Increased Market Penetration by 2025

      Most immediate applications of graphene, such as composites, inks and coatings are already commercially available.
      01.25.21

    • Breaking News | RFID and NFC
      STMicroelectronics Powers NFC Applications with Message Content, Anti-Tamper in New Type-5 Tags

      STMicroelectronics Powers NFC Applications with Message Content, Anti-Tamper in New Type-5 Tags

      Tags deliver advantages such as extended communication range with superior reliability.
      01.25.21

    • Breaking News | Suppliers News
      DuPont, Corteva, Chemours Announce Resolution of Legacy PFAS Claims

      DuPont, Corteva, Chemours Announce Resolution of Legacy PFAS Claims

      Companies also settle remaining Ohio multi-district PFOA litigation.
      01.25.21


    • Breaking News | Displays and Lighting

      UDC Subsidiary Adesis' Website Wins 2020 MarCom Platinum Award

      “Our website is one of the primary thresholds to our brand," said Andrew Cottone, president of Adesis, Inc.
      Printed Electronics Now staff 01.25.21

    • Breaking News | Semiconductors and Quantum Dots
      Ambiq Wins IoT Semiconductor Company of the Year Award

      Ambiq Wins IoT Semiconductor Company of the Year Award

      Ambiq believes that innovation is essential to the advancement of human society.
      Printed Electronics Now staff 01.22.21

    • Breaking News | Displays and Lighting | Flexible and Printed Electronics | Personnel | Suppliers News
      Ynvisible Names Michael Robinson CEO, Jani-Mikael Kuusisto SVP Ventures

      Ynvisible Names Michael Robinson CEO, Jani-Mikael Kuusisto SVP Ventures

      Ynvisible is focusing on speed to market for customer products and sustainable financial growth.
      David Savastano, Editor 01.22.21


    • Breaking News | Photovoltaics | Research Institutions
      IHSMarkit Reports Top Clean-Tech Trends for 2021

      IHSMarkit Reports Top Clean-Tech Trends for 2021

      Solar surges by 30%, 10 GW milestone for offshore wind among highlights.
      David Savastano, Editor 01.22.21

    • Breaking News | RFID and NFC
      Roadsimple Modernizes Warehouse Ops with Zebra Technologies

      Roadsimple Modernizes Warehouse Ops with Zebra Technologies

      Roadsimple 'transformed our warehouse from a manual-based operation using pen and paper to a truly modernized one,' said Hao Fang, IT director.
      Printed Electronics Now staff 01.22.21

    • Breaking News | Sensors and Wearables
      Emerson Receives 2021 IoT Breakthrough Award for Analytics Platform of the Year

      Emerson Receives 2021 IoT Breakthrough Award for Analytics Platform of the Year

      Real-time data and analytics are key drivers for optimizing operational performance, asset health and plant safety.
      Printed Electronics Now Staff 01.21.21


    • Breaking News | Graphene, Perovskites and Carbon Nanotubes | Research Institutions
      Graphene Flagship Launches Redesigned Website

      Graphene Flagship Launches Redesigned Website

      Site features completely redesigned aesthetic, with emphasis on easy-to-access informative content presented in a simple, clean and visually appealing way.
      Printed Electronics Now staff 01.20.21

    • Breaking News | Flexible and Printed Electronics | Research Institutions | Sensors and Wearables
      TNO at Holst Centre Develops Cuddle Vest

      TNO at Holst Centre Develops Cuddle Vest

      Connected cuddle vest with printed electronics can give hugs from a distance.
      Printed Electronics Now staff 01.19.21

    • Breaking News | Flexible and Printed Electronics | Semiconductors and Quantum Dots
      Annual Outlooks at Virtual ISS 2021 Point to Global Economic, Chip Industry Growth

      Annual Outlooks at Virtual ISS 2021 Point to Global Economic, Chip Industry Growth

      Semiconductor industry to grow to $1 trillion in chip sales in the early 2030s, speakers at the Virtual SEMI Industry Strategy Symposium revealed.
      Printed Electronics Now staff 01.19.21

    Trending
    • DuPont, Corteva, Chemours Announce Resolution Of Legacy PFAS Claims
    • TNO At Holst Centre Develops Cuddle Vest
    • First Solar Signs Definitive Agreement To Sell US Development Platform To Leeward
    • Graphene Flagship Study Predicts Increased Market Penetration By 2025
    • IHSMarkit Reports Top Clean-Tech Trends For 2021
    Breaking News
    • Imec Technology Taking Off to Space
    • Osram in Top 25 of World’s 100 Most Sustainable Companies
    • North American Semiconductor Equipment Industry Posts December 2020 Billings
    • Graphene Flagship Study Predicts Increased Market Penetration by 2025
    • STMicroelectronics Powers NFC Applications with Message Content, Anti-Tamper in New Type-5 Tags
    View Breaking News >
    CURRENT ISSUE

    Fall 2020

    • Flexible Electronics Is Proving to Be Ideal for Healthcare
    • COVID-19 and the Printed Electronics Industry
    • Smart Packaging Looks to Move Forward
    • Electronic & Conductive Ink Conference Showcases Future of Ink Technology
    • Printed Electronics Now’s International Suppliers’ Directory
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Clinical Evidence Suggests Potential Oral Benefits for Curcumin Extract
    Oleic Acid Possibly Implicated in MS Pathology
    NIH Study Compares Low-Fat, Plant-Based to Low-Carb, Animal-Based Diet
    Coatings World

    Latest Breaking News From Coatings World

    APV Engineered Coatings Reflects on 2020
    LINE-X Launches Dealer Program with International Truck
    BCF CEO to Chair Royal Society of Chemistry Surface Coatings Interest Group
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Alleviant's Transcatheter Tech Obtains Breakthrough Status
    Signia Appoints New President
    At-Home COVID-19 Test Kits Boosts Disease Monitoring Capabilities
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Civica to Build an Essential Medicines Manufacturing Facility in Virginia
    Humanigen, Emergent Enter Covid-19 Partnership
    Samsung Bioepis Opens New Headquarters
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Fitglow Beauty Wins Big at Annual Dirty Thinker’s Choice Awards
    e.l.f. Cosmetics Unveils Mint Melt Collection
    Estée Lauder Companies Updates Supply Chain Leadership
    Happi

    Latest Breaking News From Happi

    Some Good News at Inter Parfums
    Professional Beauty Association Names New Executive Director
    Curcumin's Role in Oral Care
    Ink World

    Latest Breaking News From Ink World

    Paragon Expands Direct Mail Capabilities with Ricoh Pro VC70000
    BOBST Demonstrates Future of Flexible Packaging Production at Virtual Open House
    Morancé Soudure France Adds Comexi F2 MC 10-color Flexo Press
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    VPF launches deep-freeze adhesive
    ProMach strengthens flexible packaging business
    Gallus planning virtual event for March
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Kimberly-Clark Releases Q4, Full Year Results
    Freudenberg to Establish Apparel Interlining Competence Centers
    Minet Adds Spunlace Line in Romania
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    First Patient Implanted With NEXXT MATRIXX SA Cervical Turn-Lock System
    Cretex Companies CEO Steps Down
    Conformis Enters Development & Supply Agreement with SITES Medical
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    First Solar Signs Definitive Agreement to Sell US Development Platform to Leeward
    Imec Technology Taking Off to Space
    North American Semiconductor Equipment Industry Posts December 2020 Billings

    Copyright © 2021 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login