3M Financial Report Reveals Strong Effort in Q2 Despite COVID-19

August 5th, 2020 by Emmariah Holcomb

3M highlighted several of the company’s financial strengths during its second quarter conference call, held las week. The company’s financial report and conference call highlighted its sales, which were down 12.2% when compared to last year’s second quarter. Meanwhile, 3M’s operating cash flow is up by 15% when compared to last year’s second fiscal quarter. Company representatives mentioned COVID-19’s global impact as a factor in 3M’s results.

“While our results were significantly impacted by the global economic slowdown, we executed well, managed our costs and delivered another quarter of robust cash flow,” said Mike Roman, 3M chairman and CEO. “We are taking actions to navigate near-term challenges, while relentlessly innovating for our customers and investing for the future to lead out of the slowdown and continue to deliver long-term value for our shareholders.”

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