FILE PHOTO: The 3M logo is seen at its global headquarters in Maplewood, Minnesota, U.S. on March 4, 2020. REUTERS/Nicholas Pfosi
July 27, 2021
(Reuters) -3M Co reported a 16.7% rise in quarterly profit on Tuesday, helped by a rebound in several of its key end markets as economies recover from the impact of the COVID-19 pandemic.
The maker of N95 face masks and Scotch-Brite home care products also raised its full-year sales and profit outlook.
The company said it now expects annual sales to grow in the range of 7% to 10% compared with the prior forecast of 5% to 8% growth.
It also raised its 2021 earnings per share outlook to between $9.70 and $10.10, up from the prior range of $9.20 to $9.70.
Net income attributable to 3M rose to $1.52 billion, or $2.59 per share, in the second quarter ended June 30, from $1.30 billion, or $2.25 per share, a year earlier.
Net sales rose about 25% to $8.9 billion.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)
Source: One America News Network
