Fortrea (FTRE) PT Lowered to $30 at Citi

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Go back to Fortrea (FTRE) PT Lowered to $30 at Citi

Fortrea Reports Second Quarter 2024 Results

August 12, 2024 7:00 AM EDT

For the three months ended June 30, 2024, from continuing operations:

Revenues of $662.4 millionGAAP net loss of $(99.3) millionAdjusted EBITDA of $55.2 millionGAAP and adjusted diluted loss per share of $(1.11) and $(0.03), respectivelyBook-to-bill ratio of 0.96x, resulting in 1.16x book-to-bill for the trailing 12 monthsCompleted divestiture of assets relating to the Endpoint Clinical and Patient Access businessesDebt paydown of $504 million in the quarter using initial divestiture and securitization proceedsRevised full-year guidance

DURHAM, N.C., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the Company), a leading global contract research organization... More