3M (NYSE:MMM) reported second-quarter results that beat the consensus forecast — with the company’s healthcare segment showing especially robust growth.
The St. Paul, Minn.–based company posted profits of $1.5 billion, or $2.59 per share, on sales of $9 billion for the three months ended June 30, 2021, for a 16.7% bottom-line gain on sales growth of 24.7%.
Adjusted to exclude one-time items, earnings per share were also $2.59, 33¢ ahead of Wall Street, where analysts were looking for sales of $8.6 billion.
3M’s healthcare segment reported $2.3 billion in revenues, marking a rise of 24.9% from the second quarter of 2020. Sales in the segment increased in oral care, food safety, medical solutions, separation and purification and health information systems, with growth across all geographic areas.