Why did MMM's Q4 2024 earnings fall short?

3M's Q4 2024 earnings did not fall short, but rather exceeded expectations with a slight increase in adjusted EPS and revenue. However, there are several factors that could have impacted the company's performance:

1. **Legal Challenges**: Ongoing legal challenges have been a significant factor affecting 3M's results. The company has been dealing with litigation related to PFAS in drinking water, which has likely impacted its financial performance.
2. **Automotive Sector Challenges**: The automotive sector, which is a key customer for 3M's products, has been facing significant challenges due to factors such as high inventory levels and production cuts. These challenges have likely impacted 3M's sales and earnings in the quarter.
3. **Spin-off of Healthcare Business**: 3M completed the spin-off of its Healthcare business into a separate public company in April 2024. This spin-off may have had an impact on the company's year-over-year top-line comparison in the quarter, potentially contributing to the decline in revenue.
4. **Economic Conditions**: The broader economic environment, including factors such as consumer spending and interest rates, can greatly impact the industrial production that drives demand for 3M's offerings. It is possible that the company's performance was impacted by economic conditions in the quarter.

In conclusion, while 3M's Q4 2024 earnings did not fall short, the company has faced several challenges that could have impacted its performance, including legal challenges, challenges in the automotive sector, the spin-off of its Healthcare business, and broader economic conditions.