3M release first-quarter earnings report, the company realized $ 1.79 earnings per share for the quarter, compared with last year rose 11.2 percent. Sales rose 2.6%, reaching $ 7.8 billion. Endogenous growth from business in local currency sales growth of 4.6%, while changes in exchange rates led to sales growth this quarter, down 2% year on year.
In the first quarter, 3M operating profit of $ 1.7 billion, operating margin of 21.9%, net profit exceeded 1.2 billion dollars. During the quarter, the impact of traditional seasonal variation, the company's net profit for the free cash flow conversion ratio of 66%.
3M quarter dividend to shareholders $ 566 million in cash, and repurchased $ 1.7 billion worth of company stock.
This quarter's sales in local currency showed a growth measurement, medical products division grew by 6.2%, industrial products division grew 4.9 percent, security and identity division grew by 4.6%, electronics and energy division grew 4.1%, Consumer Division an increase of 2.6%. Geographical points, the Asia-Pacific region sales rose 6.9 percent in local currency, Latin America / Canada grew 6.8%, EMEA region (including: Europe, Middle East and Africa) grew 3.7 percent, 2.6 percent Native American.
"Outstanding performance in the first quarter performance of the company, each business unit, the staff of one mind in all regions, helping companies to achieve strong growth in the business portfolio in multiple areas .3M gained considerable profits to shareholders the amount of feedback also broke record levels. "3M chairman, president and CEO Inge G. Thulin said," at the same time, we also increased the development and commercialization of inputs, in order to protect the company's business is committed to achieving a sustainable future growth in the future .3M and profitable business growth. "
3M year earnings per share in the range of 7.30 to 7.55 US dollars range outlook remains unchanged, the annual volume of business from internal sales growth in local currency is still maintained at between 3% -6%. Affected by fluctuations in foreign currency exchange rates, the company expects 2014 full-year revenue will be reduced to about 1%. Previously, the company expected full-year sales increase of between 0 and -1%.