Overview Key strengths Key risks Supportive long-term e-commerce and automation tailwinds. Customer concentration within the competitive parcel segment. Good market position in the materials handling and automation industry. Project-based revenue model dependent on customer willingness for capital projects, which can fluctuate based on economic conditions and interest rates. Long-term relationships with the largest parcel companies. High leverage and financial sponsor ownership. We forecast Fortna?s 2024 revenue to decline in the mid-single-digit percent area, with our expectation that D&F revenues will be the biggest drag on the top line given a lower beginning backlog than in 2023. We assume bookings may remain somewhat challenged (though improving from 2023 levels) as retailers continue to grapple with high interest rates and economic uncertainty.
