3M, DuPont Closed 2010 Strongly

Both companies released fourth-quarter 2010 results Tuesday and raised their 2011 earnings expectations, saying sales increased across their business segments last year.

Two of the largest companies serving the worldwide safety and health industry, 3M and DuPont, announced strong fourth-quarter 2010 results Tuesday and raised their 2011 earnings expectations. 3M said its full-year 2010 sales were $26.7 billion and earnings per share were $5.63, up 15.3 percent and 24.6 percent, respectively. DuPont said its 2010 sales of $31.5 billion were up 21 percent from 2009, with $3.28 of earnings per share, up 62 percent from $2.03 in 2009.

Sales in China (including Taiwan) were up more than 50 percent in 2010 to $3.3 billion, with electronics-related sales and automotive-related sales contributing, DuPont CEO Ellen J. Kullman said. She said sales in India during 2010 reached $678 million, up more than 40 percent from the prior year. Overall demand for Nomex and Kevlar "started to rebound midyear," she said.

3M CEO George W. Buckley said 3M's $1.4 billion in R&D spending during 2011 "fueled innovation and drove new product sales as a percent of total [sales] to 31 percent." 3M raised its 2011 earnings expectation to a range of $5.95 to $6.20 per share, versus its prior expectation of $5.90 to $6.10. Likewise, DuPont raised its 2011 EPS guidance to $3.45 to $3.75 per share, versus its prior expectation of $3.30 to $3.60 per share.

3M said its Industrial and Transportation unit's 2010 sales were $8.6 billion, up 17.5 percent in local currency; Health Care's 2010 full-year sales were $4.5 billion, up 5.2 percent; and Safety, Security and Protection Services' 2010 full-year sales were $3.3 billion, up 7.5 percent.

The DuPont Safety and Protection segment's full-year 2010 sales were $3.4 billion, up 20 percent from 2009, and its full-year net income was $449 million. Kullman said DuPont expects to close on its $6.3 billion acquisition of Copenhagen, Denmark-based food ingredients maker Danisco during the second quarter of 2011.

Download Center

HTML - No Current Item Deck
  • Free Safety Management Software Demo

    IndustrySafe Safety Management Software helps organizations to improve safety by providing a comprehensive toolset of software modules to help businesses identify trouble spots; reduce claims, lost days, OSHA fines; and more.

  • Track Key Safety Performance Indicators

    IndustrySafe’s Dashboard Module allows organizations to easily track safety KPIs and metrics. Gain increased visibility into your business’ operations and safety data.

  • Analyze Incident Data

    Collect relevant incident data, analyze trends, and generate accurate regulatory reports, including OSHA 300, 300A, and 301 logs, through IndustrySafe’s extensive incident reporting and investigation module.

  • Safety Training 101

    When it comes to safety training, no matter the industry, there are always questions regarding requirements and certifications. We’ve put together a guide on key safety training topics, requirements for certifications, and answers to common training questions.

  • Conduct EHS Inspections and Audits

    Record and manage your organization’s inspection data with IndustrySafe’s Inspections module. IndustrySafe’s pre-built forms and checklists may be used as is, or can be customized to better suit the needs of your organization.

  • Industry Safe
comments powered by Disqus

OH&S Digital Edition

  • OHS Magazine Digital Edition - March 2019

    March 2019


      Not Your Grandpa's Ear Muffs 
      Far Too Many Fatal Falls
      Marijuana in the Workplace
      Ladder Safety Tips
    View This Issue