3M Posts Record Third-Quarter Numbers
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Due to the record numbers, 3M has updated its year-end expected results, increasing it's earnings to an estimated $7.40 to $7.50 as opposed to the former expectation of $7.30 to $7.55.
In the summer, 3M completed its $865 million acquisition of Sumitomo, which added 0.1 percent to sales. Third-quarter operating income was 1.9 billion while net income was 1.3 billion. 3M converted 103 percent of net income to free cash flow in the quarter.
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- 3M Promotional Markets Department
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