Why did MTX underperform forecasts in Q4 2024?

Minerals Technologies Inc. (MTX) underperformed forecasts in Q4 2024 due to a combination of factors:

1. Revenue Decline: MTX's revenue for Q4 2024 was $861.5 million, which is a decrease from the previous year's revenue of $861.8 million for the same quarter. This decline was likely due to softer industrial market conditions, as indicated by the company's own statements.
2. Earnings Miss: The company's earnings per share (EPS) for Q4 2024 was $1.39, which was below the consensus estimate of $1.33. This suggests that MTX's performance was below expectations in terms of profitability.

3. Market Challenges: The industrial materials market, which is a key sector for MTX, has been experiencing softness. This softness is likely to have impacted the company's performance, as evidenced by the decline in revenue and earnings.
4. Strategic Initiatives: While MTX has been making strategic investments and acquisitions, such as the ones announced in Snow Lake Resources Ltd., these initiatives may have incurred costs that affected short-term profitability.

In conclusion, MTX's underperformance in Q4 2024 was likely a result of a combination of factors including softer industrial market conditions, lower-than-expected earnings, and strategic initiatives that impacted short-term profitability.