3M Co. (MMM) Misses Q2 EPS by 2c
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3M Reports Second-Quarter 2020 Results
July 28, 2020 6:30 AM EDTStrong Execution and Cash Flow in Uncertain Environment
Second-Quarter Highlights:
Sales of $7.2 billion, down 12.2 percent year-on-year Organic local-currency sales declined 13.1 percent year-on-year GAAP EPS of $2.22; adjusted EPS of $1.78 Both GAAP and adjusted EPS affected by COVID-19 impacts and actions (including associated restructuring charge of $58 million, or $0.08 per share) Operating cash flow of $1.9 billion, up 15 percent year-on-year; adjusted free cash flow of $1.5 billion, up 18 percent year-on-year Improving sales trends; July month-to-date sales up low-single digits... More