secwatch.observer — SEC 8-K summary
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Issuer:     Fortrea Holdings Inc. (FTRE)
CIK:        0001965040
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001965040-24-000019
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1965040/000196504024000019/0001965040-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1965040/000196504024000019/ftre-20240513.htm
  HTML page:      https://secwatch.observer/filing/0001965040-24-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer