Fortrea Q3 revenue $674.9M, GAAP loss $(0.21)/share; FY rev guidance lowered to $2.7B-$2.725B

Fortrea Holdings Inc.

2024-Q3 EPS reported -$2.99 revenue$1,999,400,000

Q3 2024 revenue $674.9M, down from $713.8M YoY; GAAP net loss $(18.5)M vs $(16.1)M YoY.
Adjusted EBITDA $64.2M, down from $68.2M YoY but up 16.3% sequentially.
GAAP diluted EPS $(0.21); adjusted diluted EPS $0.23.
Book-to-bill ratio 1.23x for Q3; backlog increased to $7.57B.
FY 2024 revenue guidance updated to $2.70B-$2.725B; adjusted EBITDA guidance unchanged at $220M-$240M.

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