3M Quarterly Profit Jumps on Price Hikes, Cost Cuts

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3M Quarterly Profit Jumps on Price Hikes, Cost Cuts

Reuters04-30

April 30 (Reuters) - U.S. industrial conglomerate 3M Co posted a 21% rise in quarterly profit on Tuesday, as price hikes and cost cuts offset the impact from slow sales.

3M stock rose 4.7% in premarket trading.

The St. Paul, Minnesota-based company reported an adjusted profit of $2.39 per share for the quarter, compared with an adjusted profit of $1.97 per share, a year earlier.

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