3M beats Q3 estimates

ST. PAUL, Minn. — 3M this week reported third-quarter earnings of $2.33 per share, up 8.4% from a year ago. Sales of $8.2 billion amounted to a 6% increase year-on-year. Operating income for the quarter was $614 million, an increase of 3.1%. The Canadian and Latin American segment helped to lead the sales hike, showing growth of 5.6%. With the positive results for the quarter following on a strong first half, the company revised its outlook for the year to 4-5% sales growth, from the previously stated 3-5%.