Fortrea Holdings Inc

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Fortrea Holdings Inc (FTRE) reports solid Q2 performance and focuses on margin improvement and growth opportunities

Fortrea Holdings Inc (FTRE) delivered a solid quarter with a strategic focus on margin improvement, cost reductions, and innovative offerings despite challenges in biotech predictions.
The company's strengths in diversified portfolio, value proposition, and customer-centric approach position it well for future growth and financial performance enhancements.
While facing challenges in book-to-bill ratio and future accruals, Fortrea Holdings is actively addressing these issues through restructuring and efficiency initiatives.
Opportunities in margin improvement, AI tools utilization, and potential Q4 activity in large pharma offer avenues for growth and enhanced financial performance in the coming quarters.

Fortrea Holdings Inc (FTRE) reports solid Q3 performance and addresses growth challenges

Fortrea Holdings Inc (FTRE) showcased resilience and success in large pharma and biotech projects, despite revenue decline.
The company's focus on cost reductions, cash flow generation, and transitioning from their parent company reflects strategic adaptability.
Challenges in revenue decline, margin improvement, and project mix management are being addressed to capitalize on growth opportunities.

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Fortrea Holdings, Inc. engages in the provision of clinical development and commercialization services. It operates under the Clinical Services and Enabling Services Segments. The Clinical Services segment provides services across the clinical pharmacology, clinical development, and other clinical service spectrum utilizing enabling services and technology through multiple delivery models. The Enabling Services segment provides technology solutions directly to customers that streamline complex randomization and optimize the trial drug supply process, while minimizing operational costs and supporting timely and accurate patient dosing. The company was founded on January 31, 2023 and is headquartered in Durham, NC.

NEW YORK, NY / ACCESSWIRE / October 7, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Fortrea Holdings Inc. ("Fortrea Holdings Inc.") (NASDAQ:FTRE) concerning possible violations of federal securities laws. Jefferies downgraded Fortrea on September 25, 2024, citing perceived weaknesses in the Company's business model as a contract research organization amid pressure on biotechnology funding.

FTRE ALERT: Levi & Korsinsky Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Fortrea Holdings Inc.

NEW YORK CITY, NY / ACCESSWIRE / October 7, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Fortrea Holdings Inc. ("Fortrea" or "the Company") (NASDAQ:FTRE). Investors who purchased Fortrea securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/FTRE.

Bronstein, Gewirtz & Grossman, LLC Initiates an Investigation into Allegations Against Fortrea Holdings Inc. (FTRE) And Encourages Investors to Reach Out

NEW YORK, NY / ACCESSWIRE / October 6, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Fortrea Holdings Inc. ("Fortrea Holdings Inc.") (NASDAQ:FTRE) concerning possible violations of federal securities laws. Jefferies downgraded Fortrea on September 25, 2024, citing perceived weaknesses in the Company's business model as a contract research organization amid pressure on biotechnology funding.

Lost Money on Fortrea Holdings Inc.(FTRE)? You May Have Been Affected by Fraud- Contact Levi & Korsinsky

FTRE ALERT- Levi & Korsinsky Has Commenced an Investigation on Behalf of Fortrea Holdings Inc. Shareholders Who Lost Money

NEW YORK CITY, NY / ACCESSWIRE / October 6, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Fortrea Holdings Inc. ("Fortrea" or "the Company") (NASDAQ:FTRE). Investors who purchased Fortrea securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/FTRE.

Bronstein, Gewirtz & Grossman, LLC Initiates an Investigation into Allegations Against Fortrea Holdings Inc. (FTRE) And Encourages Stockholders to Reach Out

NEW YORK, NY / ACCESSWIRE / October 2, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Fortrea Holdings Inc. ("Fortrea Holdings Inc.") (NASDAQ:FTRE) concerning possible violations of federal securities laws. Jefferies downgraded Fortrea on September 25, 2024, citing perceived weaknesses in the Company's business model as a contract research organization amid pressure on biotechnology funding.

Levi & Korsinsky Reminds Shareholders of an Investigation into Fortrea Holdings Inc. (FTRE) Regarding Potential Securities Fraud Allegations

NEW YORK CITY, NY / ACCESSWIRE / October 2, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Fortrea Holdings Inc. ("Fortrea" or "the Company") (NASDAQ:FTRE). Investors who purchased Fortrea securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/FTRE.

Fortrea Holdings Inc. (FTRE) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Contact the Firm to Learn More About the Investigation

NEW YORK, NY / ACCESSWIRE / October 1, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Fortrea Holdings Inc. ("Fortrea Holdings Inc.") (NASDAQ:FTRE) concerning possible violations of federal securities laws. Jefferies downgraded Fortrea on September 25, 2024, citing perceived weaknesses in the Company's business model as a contract research organization amid pressure on biotechnology funding.

Investors who Lost Money on Fortrea Holdings Inc. Should Contact Levi & Korsinsky About an Ongoing Investigation - FTRE

NEW YORK CITY, NY / ACCESSWIRE / September 30, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Fortrea Holdings Inc. ("Fortrea" or "the Company") (NASDAQ:FTRE). Investors who purchased Fortrea securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/FTRE.

Bronstein, Gewirtz & Grossman, LLC Is Investigating Fortrea Holdings Inc. (FTRE) And Encourages Investors to Connect

NEW YORK, NY / ACCESSWIRE / September 27, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Fortrea Holdings Inc. ("Fortrea Holdings Inc.") (NASDAQ:FTRE) concerning possible violations of federal securities laws. Jefferies downgraded Fortrea on September 25, 2024, citing perceived weaknesses in the Company's business model as a contract research organization amid pressure on biotechnology funding.

Levi & Korsinsky Investigates Possible Securities Fraud Violations by Fortrea Holdings Inc. (FTRE)

NEW YORK CITY, NY / ACCESSWIRE / September 27, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Fortrea Holdings Inc. ("Fortrea" or "the Company") (NASDAQ:FTRE). Investors who purchased Fortrea securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/FTRE.

Bronstein, Gewirtz & Grossman, LLC Encourages Fortrea Holdings Inc. (FTRE) Investors to Inquire about Securities Investigation

Fortrea Holdings Inc., a contract research organization, faces challenges including flattish sales, lack of earnings, and substantial leverage. Despite divesting assets to reduce leverage, the company continues to struggle with declining sales and margin pressure. Shares have plummeted to the high teens following a dismal second quarter earnings report, with lackluster performance and high debt levels contributing to uncertainty.

Fortrea Holdings: Continued Troubles

Fortrea Holdings Inc. (NASDAQ:FTRE ) Q2 2024 Results Conference Call August 12, 2024 9:00 AM ET Company Participants Hima Inguva - Head of Investor Relations, Corporate Development Tom Pike - Chairman, Chief Executive Officer Jill McConnell - Chief Financial Officer Conference Call Participants David Windley - Jefferies Patrick Donnelly - Citi Luke Sergott - Barclays Elizabeth Anderson - Evercore Justin Bowers - DB Max Smock - William Blair Charles Rhyee - TD Cowen Eric Coldwell - Baird Michael Ryskin - Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to the Fortrea Second Quarter 2024 Earnings Conference Call.

Fortrea Holdings Inc. (FTRE) Q2 2024 Earnings Call Transcript

Fortrea Holdings Inc. (FTRE) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of $0.07. This compares to earnings of $0.52 per share a year ago.

Fortrea Holdings Inc. (FTRE) Reports Q2 Loss, Lags Revenue Estimates

For the three months ended June 30, 2024, from continuing operations: Revenues of $662.4 million GAAP net loss of $(99.3) million Adjusted EBITDA of $55.2 million GAAP and adjusted diluted loss per share of $(1.11) and $(0.03), respectively Book-to-bill ratio of 0.96x, resulting in 1.16x book-to-bill for the trailing 12 months Completed divestiture of assets relating to the Endpoint Clinical and Patient Access businesses Debt paydown of $504 million in the quarter using initial divestiture and securitization proceeds Revised full-year guidance DURHAM, N.C., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (“CRO”), today reported financial results for the second quarter ended June 30, 2024.

Fortrea Reports Second Quarter 2024 Results

Fortrea Holdings Inc. (FTRE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Fortrea Holdings Inc. (FTRE) Q2 Earnings Expected to Decline

DURHAM, N.C., July 17, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced that it will release its second quarter 2024 financial results before the market opens on Monday, August 12, 2024. Fortrea will host a conference call at 9:00 am ET that day to review its financial results and conduct a question-and-answer session.

Fortrea Announces Date for Second Quarter 2024 Financial Results and Conference Call

DURHAM, N.C., July 11, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), today announced that Robert “Bobby” Parks has been appointed as chief accounting officer (CAO), responsible for Fortrea's accounting function, including financial reporting, risk, controls and compliance in accordance with applicable standards, laws and regulations.

Fortrea Appoints Robert Parks as Chief Accounting Officer

DURHAM, N.C., June 27, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), today announced the launch of its artificial intelligence (AI) Innovation Studio, signaling a strategic investment in reshaping the execution of clinical trials today and into the future.

Fortrea Launches AI Innovation Studio to Galvanize Technology and Human Solutions to Improve Clinical Trial Delivery

DURHAM, N.C., June 19, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), today announced that Chief Financial Officer Jill McConnell will participate in a virtual fireside chat hosted by Elizabeth Anderson, senior managing director at Evercore ISI, to discuss Fortrea's business on Thursday, June 20, 2024 at 2:00 pm ET.

Fortrea to Participate in Virtual Fireside Chat with Evercore ISI

DURHAM, N.C., June 04, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) a leading global contract research organization (“CRO”), today announced it has completed the divestiture of assets relating to its Enabling Services segment, namely its Endpoint Clinical (“Endpoint”) and Fortrea Patient Access (“FPA”) businesses, to Arsenal Capital Partners (“Arsenal”), a leading private equity firm specializing in building market-leading, technology-rich healthcare and industrial growth companies.

Fortrea Completes Divestiture of Endpoint Clinical and Patient Access Businesses to Arsenal Capital Partners

DURHAM, N.C., June 03, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE), a leading global contract research organization (CRO), today announced that Chairman and Chief Executive Officer, Tom Pike and Chief Financial Officer, Jill McConnell will present at the Jefferies Global Healthcare Conference on Wednesday, June 5, 2024 at 11:00 am ET.

Fortrea to Present at the Jefferies Global Healthcare Conference

Leverages real-world data, patient insights and a systematic process to design, operationalize and measure the effectiveness of diversity action plans in clinical trials Leverages real-world data, patient insights and a systematic process to design, operationalize and measure the effectiveness of diversity action plans in clinical trials

Fortrea Introduces Comprehensive Solution to Improve Diversity and Inclusion in Clinical Research

DURHAM, N.C., May 16, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (“CRO”), today announced the appointment of Machelle Sanders to the Company's Board of Directors. Ms. Sanders has served as North Carolina's Secretary of Commerce since February 2021 and brings strong domain expertise from more than 30 years of operational and quality assurance roles in pharmaceutical and biotechnology companies.

Fortrea Appoints Machelle Sanders to Board of Directors

Fortrea Holdings Inc. (NASDAQ:FTRE ) Q1 2024 Earnings Conference Call May 13, 2024 8:00 AM ET Company Participants Tom Pike - Chairman, Chief Executive Officer Jill McConnell - Chief Financial Officer Hima Inguva - Head of Investor Relations, Corporate Development Conference Call Participants David Windley - Jefferies Elizabeth Anderson - Evercore Patrick Donnelly - Citi Eric Coldwell - Baird Max Smock - William Blair Michael Ryskin - Bank of America Rishi Parekh - JP Morgan Operator Ladies and gentlemen, thank you for standing by. Welcome to the Fortrea first quarter 2024 earnings conference call.

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