Overview
Fortrea Q3 revenue of $701.3 mln beats analyst expectations
Adjusted EBITDA for Q3 beats estimates at $50.7 mln
Outlook
Fortrea raises 2025 revenue guidance to $2,700 mln-$2,750 mln
Company narrows 2025 adjusted EBITDA guidance to $175 mln-$195 mln
Guidance assumes foreign exchange rates as of Dec 31, 2024, remain stable
Result Drivers
REVENUE GROWTH - Q3 revenue increased to $701.3 mln from $674.9 mln in Q3 2024, indicating growth in demand
COST SAVINGS - Cost-saving initiatives remain on track, contributing to financial performance
STRONG DEMAND - Book-to-bill ratio of 1.13x indicates strong demand for services
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $701.30 mln | $645.70 mln (8 Analysts) |
Q3 EPS | -$0.17 | ||
Q3 Net Income | -$15.90 mln | ||
Q3 Adjusted EBITDA | Beat | $50.70 mln | $47 mln (8 Analysts) |
Q3 Operating Income | -$8.60 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Fortrea Holdings Inc is $8.50, about 14.1% below its November 4 closing price of $9.70
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nGNXbJYdJ8
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)