3M profit slides 39%, reiterates 2019 profit outlook

U.S. manufacturing conglomerate 3M on Thursday reported a 39.3% fall in quarterly profit, hurt by a global slowdown in economic growth.

Net income attributable to 3M fell to $1.13 billion, or $1.92 per share, in the second quarter ended June 30, from $1.86 billion, or $3.07 per share, a year earlier.

The maker of Post-it notes and Scotch tape earned $2.20 on an adjusted basis.

Net sales fell 2.6% to $8.2 billion.