3M said it earned $1.39 billion, or $2.38 a share, in the fourth quarter, up from $969 million, or $1.66 a share, in the comparable year-ago quarter. Analysts polled by FactSet had been expecting earnings of $2.15 a share. Sales were $8.6 billion, up 4.8% from a year ago and above analysts’ forecasts of $8.4 billion.
“In an uncertain economic environment, we stayed focused on innovating for our customers, improving our operational execution and fighting the pandemic from every angle,” CEO Mike Roman said, noting that the company distributed 2 billion respirators globally in 2020 and supported the development and manufacturing of vaccines and therapeutics.
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