⁍ U.S. industrial conglomerate 3M Co topped Wall Street estimates for quarterly profit.

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⁍ The maker of N95 masks benefited from robust demand for its healthcare products during the COVID-19 pandemic.

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⁍ Analysts on average had expected quarterly earnings of $2.26 per share on revenue of $8.32 billion.

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– Pandemic H1N1 took a toll on 3M’s sales last year, but the company rebounded in the third quarter with better-than-expected earnings, Reuters reports. The company’s net income fell 4.6% to $1.41 billion, or $2.43 per share, from $1.58 billion, or $2.72 per share, a year earlier. Net sales rose 4.5% to $8.35 billion. Analysts on average had expected quarterly earnings of $2.26 per share on revenue of $8.32 billion. Sales in its healthcare unit, which also makes surgical supplies and dental products, jumped 25.5%, and accounted for more than a quarter of the company’s total sales. However, the company said end markets for healthcare and oral care elective procedures continued to post year-on-year declines, mainly hit by the pandemic. Sales at 3M’s transportation and electronics division, which also sells auto parts, fell 7.4%. Net income attributable to 3M fell to $1.41 billion, or $2.43 per share, in the third quarter ended Sept. 30, from $1.58 billion, or $2.72 per share, a year earlier. Net sales rose 4.5% to $8.35 billion. Analysts on average had expected quarterly earnings of $2.26 per share on revenue of $8.32 billion.