3M Earnings Preview: Unfavorable Foreign Exchange Fluctuation To Weigh On Results

One of our primary concerns for this quarter's results is the impact of foreign exchange headwinds. 3M generates a little under two-thirds of its net sales from outside the U.S., making it very susceptible to foreign currency fluctuations. With the U.S. dollar remaining strong through the second quarter, 3M's top line is likely to have suffered. However, on an organic local currency basis, which excludes the impact of foreign currency fluctuations and one-time charges, we expect to see growth ac...