secwatch.observer — SEC 8-K summary
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Issuer:     Fortrea Holdings Inc. (FTRE)
CIK:        0001965040
Form:       8-K
Filed at:   2025-03-03T23:59:59+00:00
Accession:  0001965040-25-000008
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortrea reports Q4 revenue $697M, full-year net loss $271.5M; issues 2025 guidance below 2024
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- Q4 2024 revenue $697.0M (-1.8% YoY); GAAP net loss $(73.9)M, diluted EPS $(0.82) vs loss $(48.6)M in Q4 2023.
- Full-year 2024 revenue $2,696.4M (-5.1% vs 2023); GAAP net loss $(271.5)M vs $(31.7)M; adjusted EBITDA $202.5M vs $245.8M.
- Q4 book-to-bill 1.35x; backlog $7,699M; cash $118.5M, gross debt $1,142.0M.
- Entered covenant amendment on Feb 28, 2025 for flexibility through Q4 2026.
- FY2025 guidance: revenue $2,450M-$2,550M, adjusted EBITDA $170M-$200M (down YoY).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1965040/000196504025000008/0001965040-25-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1965040/000196504025000008/ftre-20250303.htm
  HTML page:      https://secwatch.observer/filing/0001965040-25-000008

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