Fortive Corporation (FTV) experienced consistent earnings misses in 2024 due to a combination of factors:
- Weak Demand in Precision Technologies: Fortive faced weak demand in its precision technologies business, leading to a reduction in its annual sales forecast. The company lowered its forecast for 2024 sales to between $6.25 billion and $6.30 billion, down from its previous expectation1.
- Strategic Shifts and Market Challenges: Fortive is navigating a complex landscape of strategic initiatives and market challenges23. These shifts and challenges likely impacted its financial performance, leading to earnings misses.
In summary, Fortive's earnings misses in 2024 were primarily due to weak demand in its precision technologies business and strategic shifts and market challenges.