The Rising Influence of Rising Affluence

[DewDiligence]

In 2Q13, 3M logged the highest quarterly sales in the company’s history; healthcare was the best performing segment:

http://www.bloomberg.com/news/2013-07-25/3m-profit-tops-estimates-on-health-auto-parts-demand.html

3M maintained its full-year 2013 guidance for non-GAAP EPS of $6.60-6.85 and organic (i.e. excluding acquisitions and divestitures) growth of 2-5% in constant currencies.

Officially, 3M’s long-term (2014-2017) guidance remains as stated in Mar 2013 (#msg-86051080), although the 9-11% average annual increase in non-GAAP EPS during the period would seem to be hard to attain.

3M obtains a higher proportion of sales from emerging markets than almost any industrial multinational company. The guidance for 2014-2017 is that 40-45% of sales will come from emerging markets, up from 35% in 2013.