Fortrea reports Q1 revenue $662.1M, net loss $81.6M; FY revenue guidance $2.785-2.855B

Fortrea Holdings Inc.

2024-Q1 EPS reported -$1.13 revenue$662,100,000

Q1 revenue $662.1M vs $693.9M YoY; GAAP net loss $81.6M vs net income $7.3M YoY.
Adjusted EBITDA $29.5M vs $41.7M YoY; GAAP diluted EPS $(0.91), adjusted $(0.04).
Book-to-bill 1.11x; backlog $7.4B; free cash flow $(34.9)M.
Planned divestiture of Endpoint Clinical and Patient Access to Arsenal Capital on track for Q2 close.
FY 2024 guidance: revenue $2,785-2,855M, adjusted EBITDA $240-260M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Fortrea Holdings Inc. reported first quarter ended March 31, 2024 results: revenue $662.1 million, net income GAAP net loss of $81.6 million, EPS $(0.91).

Period: first quarter ended March 31, 2024
Revenue: $662.1 million
Net income: GAAP net loss of $81.6 million
EPS: $(0.91)
Result: reported results

Exact text from the filing

Fortrea Reports First Quarter 2024 Results For the three months ended March 31, 2024, from continuing operations: • Revenues of $662.1 million • GAAP net loss of $81.6 million • Adjusted EBITDA of $29.5 million • GAAP and adjusted diluted loss per share of $(0.91) and $(0.04), respectively

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Source: SEC EDGAR

accession 0001965040-24-000019

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