3M on Tuesday reported $6.3 billion in its fiscal third quarter, a 0.4% year-over-year increase compared to the same quarter last year.
The Minnesota-based industrial conglomerate said that organic sales were off by 0.1% over that span. The company’s adjusted sales of $6.1 billion were 1.5% ; adjusted organic sales climbed by 1%.
Heading into the final quarter of the year, 3M adjusted its sales growth forecasts to around 1% for both total sales and organic sales. Previously, the company had projected sales growth in the range of minus-0.25% to 1.75%, and organic sales between flat and 2% growth. The company’s earnings forecast, meanwhile, was raised from the previous $7 to $7.30 per share up to $7.20 to $7.30 per share for the full fiscal year.
“The 3M team delivered another quarter of strong operational execution, resulting in a double-digit increase in adjusted earnings along with solid adjusted free cash flow generation,” 3M CEO William Brown said in a statement. “Our ongoing execution positions us well to deliver a strong finish to the year. I am confident that our work on advancing our three priorities – organic growth, operational excellence, and capital deployment – will deliver long-term value creation for our shareholders.”