Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Fortrea Holdings Inc. (FTRE)
NASDAQ:FTRE
RESEARCH TOOLSreports
Holding FTRE?
Track your performance easily
Earnings Data
Report Date
Mar 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.37Last Year’s EPS
0.19Same Quarter Last Year
Based on 7 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 13, 2023
|% Change Since: -1.99%
|Next Earnings Date:Aug 14, 2023
Earnings Call Sentiment|Positive
The earnings call reflects a positive outlook with strong execution and strategic progress, despite some challenges with revenue decline and increased SG&A costs. The company is making significant advancements in securing new business and recognition, maintaining a solid pipeline, and improving cash flow, which indicates a promising future.Company Guidance
During the third quarter of 2024, Fortrea demonstrated solid execution and made significant progress on strategic objectives. The company achieved a book-to-bill ratio of 1.23, indicating robust new business bookings relative to revenue, and maintained a backlog valued at approximately $7.6 billion, reflecting a growth of 6.2% over the past year. Fortrea's adjusted EBITDA for the quarter was $64.2 million, marking a 16.3% sequential increase despite a 5.9% year-over-year decrease. The adjusted EBITDA margin was slightly lower than the previous year at 9.5%. Revenue for the quarter totaled $674.9 million, representing a 5.4% decline compared to the previous year. Fortrea's customer concentration remained significant, with the top 10 customers accounting for 51% of the revenue. The company also reported progress in exiting its transition services agreement, with over 90% of IT applications and servers transitioned to its independent environment. Looking ahead, Fortrea maintained its guidance for the second half, targeting a 1.2 book-to-bill ratio, and updated its full-year revenue guidance to a range of $2.7 to $2.725 billion.Book-to-Bill Ratio Improvement
Fortrea achieved a book-to-bill ratio of 1.23 for the quarter, with a solid pipeline of opportunities for the next two quarters.
Strong Pipeline and Customer Wins
Closed important projects with large pharmaceutical customers and achieved key wins in therapeutic areas such as oncology, diabetes, dermatology, and autoimmune disease.
EBITDA and Revenue in Line with Expectations
EBITDA for the quarter was $64.2 million, a 16.3% increase sequentially, with adjusted EBITDA margin at 9.5%.
Recognition and Awards
Fortrea received external recognition, including being a finalist in the Fierce Healthcare's Excellence in Data-Driven DEI award and the CRO of the Year category in the annual Scrip Awards.
Significant Cash Flow Improvement
Reported $245.7 million in cash flow from operating activities for the first nine months of 2024, compared to $150 million in the prior year.
---
FTRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
FTRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 08, 2024 | $18.05 | $23.50 | +30.19% |
| Aug 12, 2024 | $25.16 | $20.04 | -20.35% |
| May 13, 2024 | $33.03 | $28.11 | -14.90% |
| Mar 11, 2024 | $36.83 | $36.41 | -1.14% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Fortrea Holdings Inc. (FTRE) report earnings?
Fortrea Holdings Inc. (FTRE) is schdueled to report earning on Mar 17, 2025, TBA Not Confirmed.
What is Fortrea Holdings Inc. (FTRE) earnings time?
Fortrea Holdings Inc. (FTRE) earnings time is at Mar 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FTRE EPS forecast?
FTRE EPS forecast for the fiscal quarter 2024 (Q4) is 0.37.
---