For 2021, 3M said it expects acquisitions and currency fluctuations. Excluding Rs. 3M had taken its lead in the onset of epidemics. The resumption indicates that the company has more confidence in its forecast for the coming months. 3M said it would resume purchasing its shares, a common practice of returning cash to shareholders.
“We expect healthy growth to return,” chief executive Mike Roman told analysts in a call Tuesday.
Shares rose 2.8 percent to 5 5,175.17 in morning trade.
3M said that with the recovery of the economy, there has been an increase in supply and labor costs, which has benefited profits. Prices of polypropylene, wood pulp and ethylene are also rising, 3M said.
3M, the largest U.S. producer of N95 masks, said it has supplied two billion masks worldwide and is earning more than ین 95 million a month in the United States, a product of pre-epidemic diseases. I’m three times as much.
3M recently entered into an agreement with federal authorities and other mask makers to better coordinate and share data on medical equipment needed to fight the epidemic. Mr Roman said the company had held fruitful talks with Biden’s new management.
“We will continue to do our best to help frontline workers get breathing and other personal protective equipment and to defeat the epidemic in the United States and around the world,” he said.
3M said there is also a high demand for filters that are being installed in public places and schools to reduce the spread of the virus. 3M has doubled its filtrate brand’s ability to make filters.
In its fourth quarter, 3M saw year-on-year sales growth in markets such as personal safety, home improvement, general hygiene and semiconductor products. Other sectors continued to decline, with sales of products aimed at reducing electoral healthcare practices, consumer electronics, hospitality and office supplies.
3M said it achieved organic growth of 14% in China and 9% in the United States in its fourth quarter. The company’s mask business grew sales by 13 percent in the company’s safety and industrial business unit, while transportation and electronics grew by 2.3 percent, healthcare by 5.4 percent and its consumer business by 11 percent.
3M raised revenue by 5.8% to 8 8.58 billion in its fourth quarter. Its earnings per share was 2. 38.238, compared to 1. 1.66 in the same period a year earlier.