3M Co (NYSE:MMM) stock fell 1.20% (As on Jan 26, 11:32:49 AM UTC-4, Source: Google Finance) after the company reported better-than-expected quarterly revenue and profit, as demand for its home improvement and personal safety products helped offset lower sales in the transportation and electronics unit, which is suffering from supply chain snarls. Net income attributable to 3M fell to $1.34 billion in the fourth quarter ended Dec. 31, from $1.41 billion, a year earlier. Organic local-currency sales increased 1.3 percent. Foreign currency translation decreased sales by 1.0 percent year-on-year. Total sales grew 4.1 percent in Consumer and 0.7 percent in Health Care, and decreased 1.5 percent in Transportation and Electronics, and 2.2 percent in Safety and Industrial. Organic local-currency sales grew 4.9 percent in Consumer and 1.6 percent in Health Care, and decreased 0.4 percent in Transportation and Electronics, and 1.3 percent in Safety and Industrial. On a geographic basis, total sales grew 2.1 percent in the Americas, and decreased 0.2 percent in Asia Pacific, and 4.5 percent in EMEA (Europe, Middle East and Africa). Organic local-currency sales grew 2.2 percent in the Americas, 1.4 percent in Asia Pacific, and decreased 1.9 percent in EMEA.

MMM in the fourth quarter of FY 21has reported the adjusted earnings per share of $2.31, beating the analysts’ estimates for the adjusted earnings per share of $2.02. The company had reported the adjusted revenue growth of 0.3 percent to $8.61 billion in the fourth quarter of FY 21, beating the analysts’ estimates for revenue of $8.55 billion. The sales fell slightly in 3M’s safety and industrial and transportation and electronics divisions while climbing slightly in health care and consumer products. Supply chain issues and inflation remained a concern for the company, but executives told investors that they’d seen stronger performance in December and signs that inflation pressure might be slowing. Fourth quarter operating income was $1.6 billion with operating margins of 18.8 percent.

Additionally, the company’s operating cash flow was $2.0 billion with adjusted free cash flow of $1.5 billion contributing to adjusted free cash flow conversion of 110 percent. 3M returned $1.8 billion to shareholders in the fourth quarter of 2021, including $848 million in cash dividends and $938 million of gross share repurchases.

In addition, the company has announced Food Safety business divestiture involving a Reverse Morris Trust transaction with NEOGEN Corporation