Industrials
Conglomerates
$68.36B
85K
Key insights and themes extracted from this filing
Net sales decreased slightly to $6.255 billion in Q2 2024 from $6.283 billion in Q2 2023, indicating minimal top-line growth. This is further evidenced by a decrease in net sales for the first six months of 2024 ($12.271 billion) compared to the first six months of 2023 ($12.338 billion).
Operating income improved significantly to $1.272 billion in Q2 2024 from an operating loss of $9.358 billion in Q2 2023. This is primarily due to a decrease in total operating expenses from $15.641 billion to $4.983 billion year-over-year.
Net income attributable to 3M rebounded to $1.145 billion in Q2 2024, compared to a net loss of $6.841 billion in Q2 2023. This recovery is also reflected in the first six months of 2024, with net income at $2.073 billion, compared to a net loss of $5.865 billion in the first six months of 2023.