Financial PerformanceMargins in Q4 were disappointing, with an operating margin of 19.7%, which missed expectations.
Market And Economic ConditionsThere is downside to assumed China LSD+ organic growth, with half of MMM China exposure being export out and this business facing a difficult comparison due to tariffs.
Uncertainty And Legal IssuesSubstantial uncertainty persists with PFAS, including damages for personal injury, water treatment costs & environmental damages.