According to Reuters, 3M is considering the sale of their Food Safety unit, valued at $3.5 billion.
For the second quarter of Fiscal 2020, the company reported net income of $1.29 billion on sales of $7.18 billion with an EPS of $2.22. Comparable values for the second quarter of Fiscal 2019 were net income of $1.13 billion on revenue of $8.17 billion with an EPS of $1.92.
Revenue for the Healthcare Segment declined 0.4 percent to $1.8 billion. The company attributed the 9.2 decline in Safety and Industrial revenue and 6.2 percent in Consumer revenue to the “global economic slowdown” in comments made by Mike Roman, Chairman and CEO.
The Company divested the drug delivery business, generating a pre-tax gain of $385 million and reduced net debt by $1.7 billion during the past quarter.