FORTREA HOLDINGS DL-,001 Aktie

Fortrea Holdings Inc., a contract research organization, faces challenges including flattish sales, lack of earnings, and substantial leverage. Despite divesting assets to reduce leverage, the company continues to struggle with declining sales and margin pressure. Shares have plummeted to the high teens following a dismal second quarter earnings report, with lackluster performance and high debt levels contributing to uncertainty. » Mehr auf seekingalpha.com

Fortrea Holdings Inc. (FTRE) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of $0.07. This compares to earnings of $0.52 per share a year ago. » Mehr auf zacks.com

For the three months ended June 30, 2024, from continuing operations: Revenues of $662.4 million GAAP net loss of $(99.3) million Adjusted EBITDA of $55.2 million GAAP and adjusted diluted loss per share of $(1.11) and $(0.03), respectively Book-to-bill ratio of 0.96x, resulting in 1.16x book-to-bill for the trailing 12 months Completed divestiture of assets relating to the Endpoint Clinical and Patient Access businesses Debt paydown of $504 million in the quarter using initial divestiture and securitization proceeds Revised full-year guidance DURHAM, N.C., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (“CRO”), today reported financial results for the second quarter ended June 30, 2024. » Mehr auf globenewswire.com