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3M earnings top expectations amid strong personal safety equipment sales

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3M reported third-quarter results that beat analyst expectations on the back of strong personal-safety and health care equipment sales.

3M said sales from its Safety and Industrial division rose 6.9% on a year-over-year basis to $3 billion, topping a FactSet estimate of $2.93 billion.

Traders wearing masks arrive before the opening bell at the New York Stock Exchange on May 26, 2020 at Wall Street in New York City.reported third-quarter results Tuesday that beat analyst expectations on the back of strong personal-safety and health care equipment sales.EPS: $2.43 per share vs. Refinitiv estimate of $2.26 per shareThe company's stock traded flat in the premarket after the results were released.

Sales from 3M's health care segment, meanwhile, popped more than 25% to $2.2 billion, driven by gains in medical solutions, separation and purification, and oral care equipment. Analysts expected health care sales to total $1.36 billion, according to FactSet. The company also said its operating cash flow came in at $2.5 billion, up 23% from the year-earlier period.

 

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